Natural gas prices rose by 0.85% to ₹284.3 due to higher global LNG demand and colder weather in the U.S. by mid-January. Industry estimates increased demand forecasts by 18 billion cubic feet, signaling the onset of the withdrawal season. Concerns over Russian gas reaching Europe via Ukraine have driven demand for U.S. LNG exports. U.S….
Gold prices fell 0.37% to ₹76,544 on a strong dollar and rumours that the central bank would be cautious on rate cuts in 2025. The possibility of major policy changes once the US president returns to the White House in January 2025 has made global markets volatile. In India, demand for gold has eased as…
Trading volume was thin before the official start of the New Year, as many traders and institutional investors typically take a break for the holidays. Year-end profit-taking and portfolio rebalancing are dampening trading activity. The U.S. Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, is expected to release its weekly…
Zinc prices rose by 1.15% to ₹282, driven by China’s plans to issue $411 billion in special treasury bonds next year. This move aims to support the world’s largest zinc consumer amid economic challenges. However, inventories in Shanghai Futures Exchange warehouses fell by 20.80%, indicating tighter supply conditions. The global zinc market faced a deficit…
Increased sowing and favourable crop conditions put downward pressure on turmeric prices, which fell -1.11% to Rs 13,836. Despite some weather-related delays, crop conditions are assessed as good to excellent. Major trading locations like Hingoli and Erode saw significant inflows, but Hingoli markets remained closed. Market inflows increased to 9,030 bags from 7,965 bags in…
Wheat cultivation in the Rabi season has increased by 2.5% to 312.28 lakh hectares (lh) due to stable prices and farmers’ appetite for government incentives. However, the area under oilseeds and pulses has declined, as a result of increased imports and falling market prices, putting India’s hopes of self-sufficiency at risk. Wheat’s strong market performance…
Jeera prices have declined by -0.15% to ₹23,935 due to profit booking and delayed sowing in Gujarat and Rajasthan, key producing states. Higher temperatures have hampered seeding and germination, resulting in sowing covering only 15% of the cropping area. Rajasthan’s cumin cultivation is expected to decrease by 10-15%. India’s cumin production reached 8.6 lakh tonnes…
Turmeric prices rose 0.03% to ₹13,992, but this was despite rumours of tight supplies till the next harvest season due to significant buying. Despite the Hingoli markets being closed, supplies rose sharply to 9,030 bundles from 7,965 bundles the day before. Also, turmeric production in key growing regions like Maharashtra, Telangana and Andhra Pradesh increased,…
Natural gas prices have risen by 7.02% to ₹320.2 due to increased global LNG demand and forecasts of colder weather in the US. A cold front is expected halfway through January, leading to an 18 billion cubic feet increase in demand forecasts. The EIA data shows natural gas storage levels fell by over 100 billion…
Unfavourable inflation data supports the possibility of a Federal Reserve rate cut in 2024, leading silver prices to rise 1.38% to ₹88,392. Core PCE prices, the central bank’s preferred inflation gauge, grew at their slowest pace in six months. Despite the central bank’s ambitious forecast for two 25 basis point rate cuts next year, market…
