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COMMODITY MARKET: CRUDE OIL FUTURES RISE NEARLY 1%; GOLD FALL ABOVE 1%

Commodity markets have shown positive sign in morning session with energy, base metals and agri commodities were traded in positive note while precious metals remained weak. Natural Gas, Nickel, Crude oil, Cotton, Mentha oil, Zinc, CPO, MCXMELTDEX, Aluminium, Copper, Lead were traded with gains. On the other hand, Gold, MCXBULLDEX, GOLDM, Silver, GOLDGUINEA, GOLDPETAL were traded on negative note.

Commodities Buzz:

Gold and silver futures prices in the domestic market slipped on Monday as the US started getting its first shipment of Covid-19 vaccines, lifting the spirit of investors who moved towards riskier assets. Gold Feb future is trading down by 1.14% while silver March futures fall 1.02%.
Crude oil futures edged higher to Rs 3473 per barrel. Crude oil price extended gain in the afternoon session after a gap up opening on optimism over the potential vaccine rollout.
Today, Natural Gas Dec future traded 3.97% higher to Rs. 199 per mmBtu.
Cotton and Mentha oil Dec Future traded higher up by 0.95% and 0.83% to Rs. 20240.00 per bales and 957.10 per kg respectively.
All the Base metals commodities have shown bullish sign due to spot demand.




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