CRUDE OIL PLUNGED ON RISING CORONAVIRUS CASES

At the MCX, Crude oil futures for Sep contract was trading at Rs. 2877.00per barrel, down by 0.90%, after opening at Rs.2894.00 per barrel, against a previous close of Rs. 2903.00 per barrel. It touched an intra-day low of Rs. 2855.00 per barrel and high of Rs.2896.00 per barrel in the future market.

Crude oil slipped amid slowing employment generations and fast rising Covid-19 cases in India.

Gold futures rose marginally on September 7 tracking the positive trend seen in the international spot prices on a weak dollar.

Silver prices gained on an improved demand for industrial metals as manufacturing activity picks up across the globe.

Zinc prices on Monday fell by 0.36 per cent to Rs 193.70 per kg in futures trade as speculators reduced their exposure, driven by easing demand in the spot market.

On Multi Commodity Exchange, Commodities like Silver, Aluminium, MCX Bulldex, Gold, GoldM, Lead, Gold Petal, Cotton, Gold Guinea, Copper, futures were the gainers, gained by 1.15%, 0.58%, 0.515, 0.32%, 0.29%, 0.26%, 0.19%, 0.17%, 0.16%, 0.04% respectively. While Commodities like Mentha Oil, Natural Gas, Crude Oil, Nickel, CPO, Zinc were the losers with a loss of 1.67%, 1.07%, 0.90%, 0.31%, 0.29%, 0.26% respectively.