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COMMODITY MARKET: NATURAL GAS FUTURES RISE ABOVE 2% CRUDE OIL PRICES FELL ABOVE 2% ON TUESDAY

Domestic commodity market traded negatively on Wednesday with Energy and bullion counters were trading with weak note while Agri remained higher. Commodities Like, CPO, Cotton, Zinc, Lead were traded with gains. On other hand, Natural Gas, Mentha oil Copper, Gold were traded on negatively.

Commodities Buzz:

Natural gas futures traded 2.37% lower at Rs 201.70 per mmBtu as participants increased their short positions. Natural gas has rallied sharply in the last few days but is struggling to maintain its momentum.

On the Multi Commodity Exchange, crude oil for the January delivery eased by 0.03 per cent, to Rs 3483 per barrel as participants cut their positions on low demand. Globally, West Texas Intermediate crude oil was trading 0.68 per cent lower at USD 46.70 per barrel, while Brent crude was quoting 0.60 per cent lower at USD 49.78 per barrel in New York.

CPO, Cotton were trading above 1 % higher while Mentha oil fell 0.77% to Rs. 988 per kg as speculators indulged in profit-booking amid subdued spot demand.

Bullion prices traded marginally lower on Wednesday after seen some recovery on today. Gold futures edged 0.54% lower to Rs. 49810 per 10 gram. The yellow metal declined for the third time in the last four days. Silver fell 0.32% to Rs. 66658 per kg.

Under Base Metals, Copper continued downside move on Wednesday. Zinc and Lead rose the most followed by Nickel and Aluminium.



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