CRUDE OIL FUTURES FELL ON LOW DEMAND

At the MCX, Crude oil futures for Sep contract was trading at Rs. 2722.00 per barrel, down by 0.77%, after opening at Rs.2769.00 per barrel, against a previous close of Rs. 2743.00 per barrel. It touched an intra-day low of Rs. 2713.00 per barrel and high of Rs.2769.00 per barrel in the future market.

Crude Oil prices were trading lower on Monday with U.S. crude rising as a tropical storm in the Gulf of Mexico forced rigs to shut down, but the gains were kept in check by wider concerns about excess supply and falling demand for fuels.

Gold prices gained in Monday’s trade ahead of the US Federal Reserve’s policy meet while record jump in coronavirus cases also helped the demand of bullion counters.

Silver prices rose to Rs 68,246 per kg on September 14 as participants increased their long positions.

Zinc prices rose 0.10% to Rs 192.35 per kg in futures trade on Monday, tracking a firm trend in physical markets on the back of pick up in spot demand.

On Multi Commodity Exchange, Commodities like Natural Gas, CPO, Copper, Silver, Nickel, Aluminium, MCX Bulldex, Gold, GoldM, Lead, Gold Petal, Gold Guinea, Zinc, futures were the gainers, gained by 2.61%,1.46%, 0.50%, 0.47%, 0.42%, 0.38%, 0.35%, 0.29%, 0.28%, 0.27%, 0.19%, 0.18%, 0.10% respectively. While Commodities like Crude Oil, Mentha Oil, Cotton were the losers with a loss of 0.77%, 0.25%, 0.22% respectively.