COMMODITY MARKET: CRUDE OIL FUTURE JUMP OVER 1%; GOLD UP 0.59%

Commodity prices traded mixed in evening trading session after saw a negative start. On MCX, Crude oil, Gold, CPO, Aluminium, Mentha oil traded positively while Cotton, Natural Gas, Silver, Copper, Zinc, Lead, Nickel traded negatively.

Commodities Buzz:

Bullion prices witnessed selling with rise in US bind yields as US 10 year Treasury yields rose above 1.50 per cent to the highest levels since February 2020.The rally in the Bitcoin also pressured precious metals to trade lower. After opened with positive note, Gold traded higher in evening trading session amid spot demand. Gold Apr future was trading higher by 0.59% at Rs. 46515 per gm while Silver Mar future was trading 1.05 % down at Rs.68546 per kg due to decline in base metals. MCXBULLDEX Mar delivery was 0.01 % up at Rs. 15010 per unit.

Crude oil prices were trading over half a percent down in morning session on Friday. Crude oil prices traded under pressure with selling across equities and commodities with rise in bond yields. Currently, Crude oil stood as top gainer and traded over 1 percent up. Crude oil Mar future jumped by 1.02% at Rs. 4669 per barrel. Natural Gas Feb future was trading down by 1.23% to Rs. 201.20 per mmBtu after a rose in the previous session.

Base metals complex traded mixed as industrial metals witnessed selling pressure from global peers despite strong fundamentals. Copper prices traded off the 10 year highs with selling in equity indices and commodities. Aluminium prices pared some gains after rallying by 6 per cent at SHFE. MCXMELTDEX Feb delivery down 0.39 % at Rs. 15010 unit.

Agri commodities traded mixed after railed in previous session. CPO and Mentha oil traded flat gains while Cotton future traded negatively.