Gold prices fell 0.91% to $99,417 on Wednesday, as a series of new trade deals boosted investor confidence. This included lower-than-expected reciprocal tariffs of 15%, below the threatened 25%. Similar deals with the Philippines and Indonesia further dampened demand for gold, with market attention now turning to next week’s Federal Reserve meeting, when rates are…
Oil prices rose in Asia on Wednesday. This was mainly due to the trade deal between the US and Japan and falling US oil supplies. In the past three days, oil prices have been falling. This is due to trade tensions between the US and the European Union and concerns about US tariffs starting on…
Turmeric futures fell 1.05% to 13,212 per quintal due to higher acreage expected from monsoon rains this sowing season. Daily arrivals increased to 13,660 quintals, indicating a steady market supply. However, production may not rise proportionally due to weather risks, particularly in regions like Nanded. Despite this, there is optimism in the Duggirala market due…
Aluminum prices rose 0.42% to settle at 253.45, supported by renewed confidence in China’s policy measures aimed at bolstering key industries such as machinery, automobiles, and electrical appliances—all major consumers of aluminum. This optimism helped offset the impact of softer short-term demand. Data from the International Aluminum Institute showed global primary aluminum output increased 0.9%…
India’s spices exports grew by 6.2% to $1.156 billion in Q1 FY25, driven by higher shipments of oleoresins, spice oils, mixes, chillies, and seed spices. Despite a slight dip in June, strong demand in April and May boosted overall performance. The US, India’s second-largest spice market after China, saw a 15% rise in imports to…
The recent decline in jeera prices was due to weak domestic and export demand, especially after the end of the retail season. Following this, short covering by short-term investors led to a slight increase in jeera prices to close at ₹19,565, up 0.10%. Farmers currently have 20 lakh bags of jeera. But only 3-4 lakh…
Gold prices on the Multi Commodity Exchange (MCX) rose by 0.56% to close the session at ₹98,015 per 10 grams, reflecting gains in the international bullion market. The weaker US dollar supported this, while silver prices remained largely unchanged. The gold rate rose by ₹542, or 0.56%, to close the session at ₹98,015 per 10…
Gold prices rose 0.59% to ₹97,788 on the back of the latest US economic data and the president’s trade policy speech. According to the CME FedWatch tool, the probability of a rate cut in September is 59.9%, while the July meeting is expected to be in the range of 4.25%–4.50%. Globally, central banks continued their…
Aluminium prices rose by 0.36% to close at 249.05, supported by expectations of tighter supply from China and stronger European demand. The market saw mild short covering despite mixed fundamentals. Shanghai Exchange aluminium stocks rose by 9.1%, indicating sluggish factory activity in China. China’s June aluminium production dipped 3.23% month-on-month but was up 3.4% year-on-year…
Turmeric prices fell by 1.68% at 13,324, despite expectations of higher acreage due to favorable monsoon conditions. Daily arrivals increased to 13,660 quintals, suggesting higher market availability. The area under turmeric has expanded to 3.30 lakh hectares for the 2024-25 season, but production gains may not match acreage growth due to untimely rains. Despite these…
