The India Meteorological Department (IMD) has forecast that the daytime temperature will decline after Tuesday as the anticyclonic circulation above Gujarat moves towards the Arabian Sea following days of a persistent heat wave that jeopardized wheat yield, particularly in Gujarat and west Rajasthan. Yet as a precaution, the government has established a high-level committee to…
While the dollar weakened from a six-week high on Tuesday as traders awaited additional economic data to assess the U.S. Federal Reserve’s rate-hike policy, gold prices edged up on the global markets. At $1,843.23, spot gold was up 0.1 percent. At $1,851.80, U.S. gold futures rose 0.1 percent. On global markets, gold and silver came…
After settling around $2 a barrel on Friday, oil prices were little changed in early Asian trade on Monday as increased supplies in the United States and expectations of additional interest rate hikes dampened optimism about China’s demand rebound. To reach $82.91 a barrel, Brent crude lost 9 cents or 0.1%. The price of March…
Due to the dollar’s resurgence against its rivals, precious metals have been sluggish during the last few weeks. On February 2, 2023, gold fell by about 5% from a peak of Rs 58,847 on the MCX to Rs 55,850. Comex Gold’s 6.48 percent decline from $1,960 to $1,833 had a more significant effect. According to…
Of the 15.25 lt of wheat available for sale in the open market by the Food Corporation of India (FCI), 3.85 lt had already been sold. This is 25% of the offer in the February 15th electronic auction’s second round. The second round’s weighted average price was 2,338.01/quintal, according to a statement released by the…
As a stronger currency and concerns about further interest rate hikes by the U.S. Federal Reserve clouded the picture for non-yielding metal, gold prices fell on February 17 in the international markets and were expected to decline for the week. At $1,832.42 per ounce, spot gold prices were down 0.3%. This week, the price of…
On February 16, both in the international market and in India, gold was trading marginally higher from a five-week low. At 10.21 am, gold was trading 0.08 percent higher on the Multi Commodity Exchange (MCX) at Rs 56,170 for 10 grams, while silver was trading 0.44 percent higher at Rs 65,712 for a kilogram. Spot…
Telangana, the third-largest cotton-producing State in the nation, increased its cotton production by 33% from 18.85 lakh tonnes (lt) in 2015. This is right despite the crop’s area not significantly expanding. 19 lakh hectares (lh) of cotton were planted over the time period, a 12 percent increase from 17 lh. The state’s ability to export…
The world’s oil demand is expected to climb by more than expected in 2023, according to OPEC, which boosted its prediction in its first upward revision in months. The organization cited China’s relaxation of COVID-19 limitations and slightly better expectations for the global economy. The Organization of the Petroleum Exporting Countries (OPEC) predicted on Tuesday…
The Cotton Association of India (CAI), a trade organization, has reduced its projections for cotton crop production even further, from 330.50 lakh bales forecast last month to 321.50 lakh bales (170 kg) for the current season (October 2022–September 2023). The revised estimate coincides with the Ministry of Agriculture’s Tuesday reduction of its cotton crop forecast…
