COMMODITY MORNING UPDATE: CRUDE OIL FUTURES CLIMB; BULLIONs TRADE POSITIVELY

All the commodities on MCX opened positively while CPO Feb future stood as top gainers, gained above 1 per cent in early trade.

Crude oil Feb is trading 0.87% up at Rs. 4268 per barrel. Gold Apr future is trading up by 0.45% to Rs. 48055 per 10 gm.

Crude oil futures strengthened in morning trade as expectations of a return to pre-coronavirus consumption patterns amid the abating crisis and hopes of an upcoming US stimulus package lifted demand sentiment. The production curbs by OPEC+ along with lower year-on-year US shale production has tightened supply, providing yet another boost to the international crude markers.

Gold prices inched up on Tuesday, as a weaker dollar and hopes of a massive U.S. stimulus package to support the virus-stricken economy boosted the precious metal's appeal.