Gold prices have continued to rise, hitting their highest since November 1 at $2,750. Global trade uncertainty and US interest rates have been driving gold prices higher day by day. From a technical perspective, a break above $2,720 indicates a positive sentiment, with a move to $2,790 expected. Gold prices rose for a third straight…
Yesterday, the market price of cumin closed at ₹22,290, up 0.29% on subdued demand and shortage of stocks. Despite the low demand, there is sufficient stock to meet the current export demand. Farmers have around 20 lakh bags of cumin, of which only 3-4 lakh bags are expected to be traded by the end of…
Aluminum prices rose 1.1% to ₹252.55 on supply concerns and EU sanctions on Russian aluminum imports.Also, aluminum stocks in LME-registered warehouses have fallen 45% since May 2024, totaling just 619,375 tonnes. More than 60% of canceled warrants indicate that more aluminum could leave LME warehouses in the coming weeks, significantly reducing supply. This supply reduction…
Turmeric prices rose 0.03% to ₹13,992, but this was despite rumours of tight supplies till the next harvest season due to significant buying. Despite the Hingoli markets being closed, supplies rose sharply to 9,030 bundles from 7,965 bundles the day before. Also, turmeric production in key growing regions like Maharashtra, Telangana and Andhra Pradesh increased,…
Silver prices rose 0.29% to 95,802 on expectations of a Federal Reserve rate cut. Self-regulation plans have been introduced and are working on behalf of China’s solar panel industry, which is reducing demand for silver. According to the Silver Institute, the global silver deficit will decrease by 4% to 182 million ounces in 2024, based…
Crude oil prices rose 2.6% to ₹5,929 per barrel on expectations that OPEC+ will continue its current production cuts until Q1 2025. In a sign of increased competition in the region, Saudi Arabia is expected to cut oil prices for Asian consumers to their lowest point in four years. The EIA Petroleum Status report revealed…
