CRUDE OIL PRICES TRADED 1% HIGHER; GOLD PRICES SLIPS BELOW RS 50,000

At the MCX, Crude Oil futures for Dec contract was trading at Rs. 3227.00 Per Barrel, up by 1.00%, after opening at Rs. 3227.00 Per Barrel, against a previous close of Rs. 3195.00 Per Barrel. It touched an intra-day low of Rs. 3209.00 per Barrel and high of Rs.3244.00 Per Barrel in the future market.

Crude oil prices traded higher on Tuesday as benchmark NYMEX WTI crude oil was trading up at $43.50 per barrel near the breakout levels. Crude oil gained on demand growth optimism over vaccine hopes from the Oxford-AstraZeneca trial results.

Metal and Energy indices traded on positive note on MCX while agri commodities were trading with mixed note in evening trading session.

Gold slipped below the crucial Rs 50,000 per 10 gm mark in the morning trade in Indian markets on November 24, tracking a muted trend in international spot prices amid optimism over COVID-19 vaccine development and upbeat US economic data. Gold prices on declined by 1.42% to Rs 48776.00 per 10 gram in futures trade and Silver prices also traded down by 1.48% to Rs 59630.00 per kg in futures trade.

On Multi Commodity Exchange, Commodities like Copper, Crude oil, MCXMELTDEX, Natural Gas, Nickel, Zinc, Lead, Aluminium futures were the gainers, gained by 1.19%, 1.00%.0.71%, 0.62%, 0.55%, 0.48%, 0.45%, 0.15% respectively. While Commodities like CPO, Silver, Gold, Cotton, Mentha oil futures were the losers with a loss of 2.52%,1.48%, 1.42%, 1.38%,0.11% respectively.