A strong dollar pushed gold down 0.15% to 84,444, although demand for safe-haven assets remained steady in the face of economic uncertainty and geopolitical tensions. Expectations for two interest rate cuts in 2024 were reinforced by weaker-than-expected US services sector data, in line with the latest FOMC projections. Gold’s appeal as a safe-haven asset has…
The Agriculture Ministry in India has permitted the trading of 10 additional commodities on the electronic National Agriculture Market (e-NAM), increasing the total tradable items on the platform to 231. The new commodities include dried Tulsi leaves, Besant, wheat flour, chana sattu, water chestnut flour, asafoetida, dried fenugreek leaves, baby corn, dragon fruit, and water…
Yellow rose is expected to settle at 0.21% at 13,296, down 10-15% on concerns over lower yield forecasts. However, after the pace of harvesting in the main producing areas increased, the real impact on supply was more evident. Despite the lower yield expectations, weak demand and increased arrivals prevented price gains. With increased arrivals in…
Natural gas prices dropped by 0.63% to ₹285.7 due to increased U.S. production and reduced tariff risks. President’s suspension of tariffs on Canada and Mexico reduced import costs, reducing price support. Average U.S. gas output rose to 106.0 bcfd in February, but daily production dropped to 105.1 bcfd. Weather remains a key driver, with forecasts…
Jeera fell 1.37% to ₹20,905 on increased supply availability and lower demand. Of the nearly 20 lakh bags currently held by farmers, only 3-4 lakh bags are expected to be traded by the end of the season, leaving 16 lakh bags available for carry-forward. Jeera production for 2023-24 is expected to be 8.6 lakh tonnes…
CottonCandy rose 0.54% to ₹53,780, driven by India’s upward crop revision and strong demand from garment industries. The Cotton Association of India (CAI) increased its 2024-25 cotton production estimate by 2 lakh bales to 304.25 lakh bales, mainly due to higher output in Telangana. However, North Indian production is expected to decline by 3.5 lakh…
Crude oil prices dropped by 0.25% to ₹6,334 due to tensions between OPEC+ and the former US President, who has called for increased oil supply to curb high prices. The US decision to impose 25% tariffs on Mexico and Canada and 10% on China added to market uncertainty. US crude inventories rose by 3.463 million…
Turmeric prices fell 0.51% to ₹13,206 on weak demand and increased supply. With the harvest underway at a faster pace, more crop is expected to enter the market next month. Turmeric arrivals have increased to 13,190 bags, almost double the previous session’s 6,780 bags, especially in significant markets like Nizamabad and Hingoli. The crop is…
Turmeric prices dropped by 0.55% to ₹13,274 due to weak demand and increased arrivals. Harvesting season has boosted arrivals to 13,190 bags, with Nizamabad and Hingoli seeing the highest. However, new crop yields are expected to be 10-15% lower this year due to small rhizomes and crop rots in the Nanded region. Farmers anticipate a…
Gold rose 0.09% to ₹82,304 amid former US President Donald Trump’s escalating tariff threats. He reiterated a 25% tariff on imports from Mexico and Canada, while also exploring additional duties on Chinese goods. The US economy slowed in Q4, but consumer spending grew at its fastest pace in nearly two years. Despite record prices, India’s…
