This week Commodity Futures traded mixed on MCX. Total turnover stood at Rs. 3503068.33 lakh in various futures & option contracts for commodities listed at MCX during the week 30th Nov to 4th Dec 2020. Commodity Market was closed on Monday in the morning session.
Bullion counters have shown positive sign in this week. Gold Dec Future closed at Rs. 49162 Per 10 gms. However, Gold gained by 2.15% after a negative close on Friday. In last few days Silver future traded up and built a tremendously weekly gain of 6.87% to Rs. 63039 Per kg. Gold traded higher, with bullion buoyed by the revival of talks on a new U.S. coronavirus relief package, even as a rise in Treasury yields looks to offset the metal’s price gains. In last week, gold futures fell over 4.15% at Rs. 48125 per 10 gram while silver futures lose 2.10% to Rs. 58984 per kg.
In Energy Commodities Crude oil traded mixed while Natural Gas shown negative sign. Crude oil for Dec future settled at Rs. 3407 per barrel, gained by 1.28%. Oil prices rallied as OPEC+ finally came to a compromise, with the group unanimously agreeing to add 500,000bpd to January quotas. Natural Gas Future this week closed With 9.63% loss. The price of Natural Gas slipped Rs. 40 per mmBTU as participants increased their short positions as seen by the open interest. .
In Base Metals Aluminium, Copper were the gainers while Zinc, Nickel, Lead were the losers of this week. Among Base Metals Copper futures gained by 3.21% and Aluminium up by 1.03%. In last Five days, Copper Dec future has shown bullish sign. But Zinc Dec future ended with heavy losses of 3.27%.
Agri commodities were in negative side with cuts amid swift developments on the vaccine front. Cotton and Mentha oil future were weekly losers whereas CPO stood as only gainer.