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Domestic commodity market was trading mixed with base metal and agri complex traded lower while bullion and energy traded firm. Commodities like, Natural Gas, Cotton, Crude oil, Gold were trading higher while all the base metals were trading negatively.

Commodities Buzz:

Base metals prices traded under pressure on Tuesday with most of the metals traded lower despite a weaker dollar and positive equity indices. Base metals demand has been affected due to recent lockdowns on pandemic fears over new strain of coronavirus. MCXMELTDEX was trading 1.05% lower at Rs. 13618 unit.

Gold prices in India traded in a narrow range for the sixth day in a row amid mixed global cues. On MCX, February gold futures were up 0.11% to Rs. 50070 per 10 gram. In the previous five sessions, gold had remained in the Rs.50000 to Rs. 50500 range. Silver today on MCX edged down 0.58% to Rs.68421 per kg. In global markets, gold rates were slightly higher today after US President Donald Trump's approved a stimulus package.

Energy commodities were trading positively in evening session. Natural Gas traded 0.82% higher after drop over 9% in previous session. Crude oil Prices traded higher in evening session after opened with negatively. Crude oil prices gained on demand recovery hopes over US stimulus and proposal of increasing stimulus checks amount. The rally in equity indices and weaker dollar also supported oil prices to trade firm.

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