India’s cotton production is expected to decline by 7% to 302 lakh bales in 2024-25. The Cotton Association of India (CAI) attributed the decline to a change in crop preferences in key regions such as Gujarat and Maharashtra. The decline is due to a significant reduction in cultivated area as farmers in key cotton-growing regions…
Gold prices ended the day down -0.13% at ₹76,143 as the US dollar strengthened and market expectations for the Federal Reserve to slash rates aggressively were tempered by a better-than-expected US jobs report. In September, the US labor market shown resiliency as job growth picked up speed and the jobless rate dropped to 4.1%. As…
Although the gains were constrained by ongoing demand concerns, oil prices increased somewhat after falling to multi-month lows earlier because major producers may postpone an output rise scheduled for next month and because U.S. stocks decreased. November Brent crude futures saw a 0.1% increase, or 15 cents, to $72.85, following a 1.4% decline to the…
With Israel accepting a plan to address the issues preventing a ceasefire agreement in Gaza, concerns over a disruption in Middle Eastern oil supplies were allayed, and oil prices inched down on Tuesday. At $77.54, Brent crude dropped 12 cents, or $2.02, or 0.15%. Tuesday’s front-month U.S. West Texas Intermediate oil futures were down 14…
Zinc prices fell 1.6% to 255.9, which accounts for nearly 50% of the cost of zinc production. Zinc stocks fell by 8.5% from the previous Friday, which also impacted the price movement. The surplus in the global zinc market narrowed to 8,300 MT in May from 15,300 MT in April. In July 2024, China’s refined…
Following the release of India’s government budget, the rupee saw a small increase on Friday, although early gains on a decline in U.S. bond yields and upbeat sentiment were undermined by dollar demand from state-run banks and importers. The rupee’s previous close was 82.9650; it concluded at 82.9175 against the dollar. This week, the currency…
