WEEKLY COMMODITY UPDATE: MCX NATURAL GAS, CRUDE OIL, BASE METALS ADVANCE FOR THE WEEK; MCX GOLD, MENTHAOIL, COTTON, CPO DOWN

Total turnover stood at Rs. 20131641 lakh in various futures & option contracts for commodities listed at MCX during the week 2nd to 6th Sep 2019. The Commodity markets closed in morning session for Ganesh Chaturthi on Monday. MCX Comdex started the week on positive note and ended at 3975.29 with gains of 1.12% over previous Friday‘s— the index comprise energy, metals and agri items. The Energy index closed at 2850.23, up 3.65% and Metal index up by 0.39% at 6053.68 while the Agri index was down 0.64% at 2863.69.

Natural Gas future stood as the top gainers of this week, while Agri commodities are the weekly losers. Gold future price also moderately lower on news US china trade talks.

In the Energy segment, Crude oil future ended lower on yesterday, lose nearly 1 per cent amid a weak trend in global markets but on weekly basis Crude oil for Sep future settled gains of 2.58% over previous Friday’s. Crude oil was volatile in this week. Natural Gas for Sep closed at Rs 179.1 per mmBtu, up 8.48%.Last week Energy index has record gains of 2.71%.

Metals Index have been rising strongly during this week . In Base Metals, Aluminium Sep contract recorded a gain of 0.43%, closed at 139.8 per kg on Friday as against Rs. 139.2 per kg on previous Friday’s while Copper Sep future registered a weekly gain of 2.65 % at Rs. 453.35 per kg on Friday and Lead Sep future closed at Rs. 155.4 per kg on Friday and also recorded a weekly gain of 0.97 % over previous Friday’s. Zinc Sep futures gained by 2.04 % at Rs. 184.85 per kg. Nickel Sep future registered a weekly gain of 0.65 % at Rs. 1262 per kg on Friday as against Rs. 1253.8 per kg on previous Friday’s close.

In the bullion segment, gold contracts recorded a turnover of Rs 4229447 Lakh. Gold Oct future down by 0.27 % at Rs 38553 per 10 grams as risk-on sentiment got a boost after China and the United States agreed to hold talks to end their protracted trade dispute. Silver Sep future gained by 2.45 % at Rs 47885 per kg.

In last week, Agri index had witnessed a decline of 0.68%.During this week, it lose by 0.64%. Cardamom Sep future lose 0.54% at Rs. 2829.1 per kg on Friday against Rs. 2844.4 per kg previous Friday’s while Mentha oil Sep futures lose 1.68% at Rs. 1276.2 per kg. CPO Sep future lose by 1.88 % at Rs. 554.6 per 10 kg and Cotton Aug closed at Rs. 19430 per bales on Friday, registered weekly loss of 0.72% over previous Friday’s.