COMMODITY MARKET: LEAD FUTURE GAINED NEARLY 3%, BULLION PRICES TRADED FIRM

Domestic commodity market traded with mixed. On MCX, Lead Cotton , Crude oil, Gold, Mentha oil were trading on positively. On other hand, Silver, Natural Gas, Aluminium, CPO, Zinc, Copper, were trading negatively.

Commodities Buzz:

Bullion prices was trading volatile but managed the session with positive note. Bullion prices traded higher on dollar decline with fall in US treasury yields. On the Multi Commodity Exchange (MCX), February gold futures edged 0.47% higher to ₹ 49275 per 10 gram while Silver Mar futures declined 0.68% to ₹ 65457 per kg. MCXBULLDEX Jan delivery was trading 0.16 % higher at Rs. 15313 unit.

Crude oil prices traded higher on Wednesday. Crude oil prices gained on bullish inventory data from US API which showed that weekly oil stockpiles fell by 5.82 mb against expectations of 2.7 mb draw. Crude oil prices boosted by broad buying in commodities over weaker dollar on demand growth optimism.Crude Oil for January rose 0.59% at ₹3909.00 per barrel and touched an intraday high of ₹3976 and an intraday low of ₹3898 per barrel on the MCX. Natural Gas declined by 0.58% at ₹206. per mmBtu.

MCXMELTDEX Jan delivery was trading 0.12 % higher at Rs. 13755 unit. Base metals prices were supported by dollar decline on US stimulus hopes and fall in US bond yields. Among Base metals commodities Lead stood as top gainer and gained by 2.92% at Rs. 163.90 per kg and Nickel gained by 0.12% at Rs. 1289.10 per kg .Other commodities were trading on marginal negative note.

Under Agri index, Mentha oil and Cotton Jan future was trading on positively. On other hand, CPO Jan future was trading 0.45% down at ₹ 979.80 per10 kgs.