OIL STEADY WITH SUPPLY TIGHT; GOLD TRADE LOWER ON STRONGER EQUITIES, FALL IN SPOT DEMAND

At the MCX, Crude oil futures for Jun 2019 contract was trading at Rs. 3782.00 per barrel, up by 1.61 %, after opening at Rs. 3759.00 per barrel, against a previous close of Rs. 3722.00 per barrel. It touched an intra-day low of Rs. 3759.00 per barrel and high of Rs. 3797.00 per barrel.

Oil prices were steady on Monday as U.S.-China trade tensions continued to threaten demand for oil, but tight crude supply and the swift end to a trade dispute between Mexico and the United States offered support.

Gold prices dropped in futures trade on Monday as rise in equities eroded the shine of gold as a safe-haven metal.

MCXCOMDEX opened with negative note at 3574.88 and traded up by 0.30 % at 3556.65.Commodities like Cardamom, Lead, Crude oil, Nickel, Copper, Natural Gas, Zinc were stood as top gainers, gained by 2.71%, 1.76%, 1.61%, 0.86%, 0.78%, 0.68% , 0.39% respectively. On the other hand, Mentha Oil, CPO, Silver, Gold, Cotton futures were stood as top losers, lose by 2.51%, 1.78%, 1.50%, 0.74%, 0.05% respectively.

NSE Nifty 50 ended 0.44 per cent or 52.05 points higher at 11922.70 and Sensex rose 0.43 per cent or 168.62 points to 39784.52.