CRUDE OIL FUTURES ROSE ON SPOT DEMAND

At the MCX, Crude oil futures for Sep contract was trading at Rs. 2880.00 per barrel, up by 1.84%, after opening at Rs.2845.00 per barrel, against a previous close of Rs. 2828.00 per barrel. It touched an intra-day low of Rs. 2845.00 per barrel and high of Rs.2896.00 per barrel in the future market.

Crude Oil rose for a second day on Wednesday as a hurricane closed US offshore oil and gas production and an industry report showed US crude inventories decreased.

Gold prices firmed on Wednesday supported by a weaker dollar, with investors awaiting the outcome of the Federal Reserve’s policy meeting for details of the U.S. central bank’s plans to balance interest rates against its inflation target.

Silver prices rose to Rs 69122.00 per kg on September 16 as participants increased their long positions as seen by the open interest.

Zinc prices on Wednesday rose 0.41% to Rs 195.10 per kg in the futures trade tracking a firm trend in physical markets on the back of a pick-up in spot demand.

On Multi Commodity Exchange, Commodities like Crude Oil, CPO, Natural Gas, Zinc, Gold Petal, Gold, GoldM, MCX Bulldex, Aluminium, Cotton, Silver, Gold Guinea, Mentha Oil futures were the gainers, gained by 1.84%, 0.88%, 0.52%, 0.41%, 0.34%, 0.33%, 0.30%, 0.27% ,0.24% ,0.22%, 0.22%, 0.22%, 0.22%, 0.02% respectively. While Commodities like Nickel, Copper, Lead were the losers with a loss of 0.28%, 0.14%, 0.10% respectively.