Gold prices edged up on December 5 in the international markets and hovered near the key $ 1,800 level, as a softer U.S. dollar made the greenback-priced bullion cheaper for buyers holding other currencies. spot gold increased 0.1 percent to $1,800.02 per ounce. In the previous session, prices rose to $1,804.46—their highest level since August 10. At…
With the price of Russian oil capping and the currency weakening, crude oil prices rose last week. In addition, for the week ending November 25 in the United States, the commodity energy was drawn from stocks at a higher rate than anticipated. In contrast to the predicted loss of just under 3 million barrels, the…
Coking coal, anthracite, met coke, ferro nickel, limestone, manganese ore, and chrome ore are among the essential raw materials used in the production of steel that the Steel Ministry has proposed eliminating import duties on, while also arguing for a reduction in the tax on graphite electrodes in the upcoming Budget 2023–24. The absence of…
Comparing October to September of 2022–2023 to the same time last year, rice procurement climbed by 12.2% to 218.73 lakh tonnes (lt). Thanks to the 15.91 lt acquired in Chhattisgarh with purchases starting a month earlier than the initial schedule, purchases in November were 11.73 lt greater than the level of the previous year. 121.91…
The commodities transaction tax (CTT) has been asked to be totally eliminated or reduced in the upcoming budget, according to the Commodity Participants Association of India (CPAI). The CPAI has additionally asked the Finance Minister to put this recommendation into effect for at least two years. The sector (the commodities derivatives market), which has zero…
The weaker dollar is anticipated to support the Indian rupee on Friday. The expectation that the central bank may slow the rate hikes is causing the dollar to weaken. Additionally, market investors will continue to be cautious ahead of a crucial US employment report because it affects the Fed’s decision on policy. Meanwhile, a rise…
“We are experiencing severe bottlenecking as we expand gradually. In order to make up for lost time and the downturn in the auto industry, we are aggressively taking action. Our market share has grown in the past two quarters in both volume and value, according to Raghupati Singhania, Chairman and MD of JK Tyres and…
High domestic pricing and restored soil moisture are projected to help farmers surpass last year’s planting in 2023, but an extreme heat wave this year may reduce production. Increased wheat production might persuade India, the second-largest producer of grain in the world, to reconsider easing a May export ban. While wheat production has nearly plateaued…
Early Asian trade on Thursday saw a sharp increase in oil prices, driven by signals of tighter supply and hope for a resurgence in Chinese demand. Brent oil prices were up 5 cents, or 0.06%, to $87.02 per barrel, while U.S. West Texas Intermediate crude futures were up 16 cents, or 0.2%, to $80.71. A…
Nirmala Sitharaman, the minister of finance, anticipates high growth and lower inflation for the coming year as the central bank works to maintain economic stability in the face of challenging external conditions. Sitharaman stated that “external variables were quite powerful in the inflation targeting exercise.” She added that these factors were out of the government’s…
