Domestic commodity market has shown positive sign and reacted positively. In commodity’s basket, Most of the product traded on positive note whereas Crude oil stood as top gainer, gained by 1.05% at Rs.3368 Per barrel. Followed by Cotton, Silver, CPO, MCXBULLDEX, GOLD GUINEA, Gold, GOLDM. GOLDPETAL, LEAD up 1.00%, 0.65%, 0.53%, 0.30%, 0.12%, 0.09%, 0.08%, 0.04% respectively.
Energy index was trading on mixed note on today. Under Energy Product, Crude oil has shown a bullish momentum as participants widened their positions on firm spot demand whereas Natural Gas Dec future has shown negative sign after started the day with positive note, trading 1.40% lower at Rs. 211.90 Per mmBtu. Under Precious metals, Gold Dec future opened with negative note, trading higher by 0.09% at Rs. 48630 Per 10 gms whereas Silver was trading better than the yellow metals, up by 0.65% at Rs.60010 per kg. Gold prices slipped below Rs. 50000 per 10 gms on Tuesday in domestic markets as they continued their weak trend of recent weeks. Globally, gold slipped as progress on a Covid-19 vaccine and a federal agency’s approval of US President-elect Joe Biden’s transition to the White House bolstered risk appetite, denting the precious metal’s safe-haven appeal.
Most of the base metal products were traded on negative note due to lower demand .Nickel stood as the top loser, down by 0.80%. Followed by Zinc, Copper, Aluminium down 0.62%, 0.56%, 0.40% respectively. Under Agri Commodities Cotton was trading up amid heavy demand.