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WEEKLY COMMODITY MARKET: CRUDE OIL PRICES RISE 0.60%, GOLD AND SILVER FUTURES FALL AGAIN

Domestic Commodity markets ended the week mixed with total turnover declined by 22.95% at Rs. 16023704.70 lakh in various futures & option contracts for commodities listed at MCX during the week 11th to 15th Jan 2021. Bullion prices ended the week with negatively while Energy ended with gains. Base metals and Agri segments ended with mixed.

Base Metals commodities ended the week with mixed where most of the base metals were trading negatively except Nickel and Lead. Nickel Jan delivery gained by 1.59% at Rs. 1312.80 per kg and Lead Jan delivery rose 5.22 % at Rs. 165.40 per kg. Zinc future ended the week with negatively, registered a decline of 3.33%. Aluminium future declined by 1.52% and Copper future ended with loss of 2.76%.

Energy index ended the week with positively. Crude oil posted marginal weekly gains of 0.60 at Rs. 3825 per barrel after continued with negatively in last two day. Crude oil prices boosted by broad buying in commodities over weaker dollar on demand growth optimism. Natural gas futures settled at 199.60, climbing 0.96% on this week after heavy volatility.

Bullion prices ended the week with losses for second time in this month. Gold Feb future saw a 0.54% decline at Rs. 48702 per 10 gms. Similarly, Silver Mar future was also down by 0.83% at Rs. 64764 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.

Agri commodities ended the week mixed where Cotton Jan future gained 0.19% but CPO Jan down by 4.89% and Mentha oil Jan delivery fell by 0.94%.



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