The bullish trend in the bullion pack and crude oil persisted in the commodities market, while most base metal prices declined last week. The favorite asset class for investors at the moment is still yellow metal. Comex spot gold price soared to a brand-new 52-week high of $2032 per ounce, and for the week, the…
The deadline for Telangana to mill rice to order and deliver it to the central pool for the kharif season of 2021–2022 has not been extended by the center. The deadline for processing rabi paddy from the season of 2021–22 has been extended, though. In order to keep up with the increased procurement, it has…
The Center has dispatched a team to Punjab and Haryana to inspect the quality of wheat arriving at terminal markets (mandis) and procurement centers. It is possible that the Center would reduce the requirements for obtaining the cereal in the two States for the Central pool stocks. Before Monday, a decision to ease procurement standards…
The RBI’s decision to maintain the crucial benchmark policy rate at 6.5 percent on Thursday caused the rupee to pare early losses and close 2 paise weaker at 81.92 (provisional) against the U.S. dollar. Forex traders claimed that after the Reserve Bank of India (RBI) stunned the market by halting the rate hike, the Indian…
The tax on domestic crude oil has been entirely eliminated thanks to a change in the windfall tax that was announced on Tuesday. The tax has now been lowered to zero from roughly a fortnight ago when it was 3,500 per tonne. This comes after a steep 20% drop in global crude oil prices since…
Tata Motors and MG Motor were the first to sell more than 7,000 electric vehicles in March, a 100% increase over the same month last year. TVS Motor Company is second in the market for electric two-wheelers, after Ola Electric. Data from the Federation of Automobile Dealers Associations (FADA) shows that Tata Motors sold 7,137…
Silver reached $25 per ounce and gold was on track to reach a new high as the dollar index hit a 2-month low and US data sparked demand for safe-haven assets like precious metals. Silver futures for delivery in May ruled at $25.02 per ounce in early Wednesday trade, while gold futures for delivery in…
In spite of unfavorable weather in Rajasthan, the main growing region for cumin, and some areas of Gujarat, prices for jeera (cumin seed) have resumed their ascent after a brief hiatus. Concerns have been raised about the crop status as a result of recent unseasonal rains that have fallen in the jeera-growing regions of southern…
Over the previous week, the rupee (INR) had no change. On Monday, it was valued at 82.3313 USD per unit. Good foreign inflows haven’t changed that. The net inflows during the previous week totaled more than $400 million, according to figures from the NSDL (National Securities Depository Ltd). This was aided by strong inflows into…
The crop quality has been negatively impacted by unseasonal rainfall and hailstorms in major wheat-producing states, but the output is not expected to be reduced, according to experts and dealers. According to S Pramod Kumar, CEO of Sunil Agro, the rains dulled the new crop, but there was no appreciable reduction in output. He claimed…
