Domestic commodity markets have shown a bearish momentum as all the commodities traded on negative except Natural Gas on Today. Nickel Silver, CPO and Crude oil lose above 1%.
Bullion prices continued to slide from the morning trade. Gold prices fell for the second day in Indian markets with futures on MCX edging lower by 0.09% to ₹49177 per 10 gram. In the previous session, gold had declined 0.3%. Silver futures on MCX were also weak today, falling 1.08% to ₹65724 per kg. Gold prices in India have struggled for more than a week, tracking global cues, as rising US bond yields that increase the opportunity cost of holding the precious metal. MCXBULLDEX Jan delivery was trading 0.38 % lower at Rs. 15309 unit.
Oil prices were lower on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world's biggest crude importer and US plans for a large stimulus package. Crude Oil for January delivery traded 1.08 % lower at ₹3857.00 per barrel and touched an intraday high of ₹3918 and an intraday low of ₹3852 per barrel on the MCX. Natural Gas stood as the only gainer, gained by 1.77% at ₹201.10 per mmBtu.
MCXMELTDEX Jan delivery was trading 0.85 % lower at Rs. 13734 unit. Among Base metals commodities Nickel stood as top loser, lose by 1.44% at Rs. 1313 per kg and Copper plunged by 0.96% at Rs. 609.30 per kg .Other commodities were trading on marginal negative note.
Under Agri index, CPO stood as top loser on MCX down by 1.16%. Cotton Jan future was trading 0.56% down at ₹ 21140 per bales.