On Monday, gold prices barely changed as markets processed a barrage of hawkish central bank signals and rising recession concerns, but copper prices recovered some of their recent losses thanks to expectations of a Chinese economic recovery. The Federal Reserve and the European Central Bank both warned that interest rates are likely to rise higher,…
The Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch has been urged by the Commodity Participants Association of India (CPAI) to request that MCX swiftly disclose the new cotton futures contract specification. The present contract will expire on December 30, according to CPAI President Nariender Wadhwa, who noted that MCX informed on…
The government on Thursday reduced the windfall tax on exports of domestically produced crude oil and diesel due to the decline in the price of oil globally. The windfall tax on locally produced crude oil has been reduced by Rs 1,700 per tonne from Rs 4,900 per tonne, according to a notice from the finance…
The first month of the oil year 2022–2023 saw an increase in imports of 34.24 percent (November to October). Data from India’s Solvent Extractors’ Association show that edible oil imports rose to 15.28 lt in November 2022–23 from 11.38 lakh tonnes (lt) in November 2021–22. (SEA). India imported 9.31 lt of CPO in November, up…
Despite the fact that the first anticipated polar vortex in four years could arrive as soon as next week, natural gas prices fell further on Wednesday as traders tried to fix a market that had risen nearly 30% over the previous five sessions. The Henry Hub on the New York Mercantile Exchange saw a decline…
Early trade on Wednesday saw a decrease in oil prices as industry data revealed a significant gain in U.S. crude stocks rather than the expected decline. This confirmed concerns about a weaker demand even as supply is becoming more constrained. West Texas Intermediate (WTI) crude futures for the United States decreased by 30 cents, or…
Following a significant increase the day before, gold prices were around a six-month high on Wednesday as markets anticipated an interest rate increase from the Federal Reserve later in the day as well as their comments on lessening inflationary pressures. As evidence that price pressures in the nation have peaked and are expected to retreat,…
Bangladesh has asked India to provide at least 0.5 million tonnes (mt) of parboiled rice on a government-to-government (G2G) basis for distribution through ration shops. The Sheikh Hasina Wajed administration has contacted India’s High Commissioner to Bangladesh for the supply, according to trade sources, even though Dhaka has issued two tenders for the importation of…
In anticipation of U.S. inflation statistics and a number of central bank meetings around the world, including the Federal Reserve, gold prices moved lower on Monday. Gold’s spot price fell 0.3% to $1,792.15 per ounce. The price of US gold futures decreased 0.4% to $1,803.70. The U.S. central bank’s final meeting of 2022, planned for…
On Monday, gold prices declined marginally below important levels as caution set in ahead of crucial U.S. inflation data and a Federal Reserve meeting this week. Copper prices also suffered from uncertainties related to the rise in COVID-19 cases in China. The statistics released last week showed that U.S. producer price inflation continued to decline…
