COMMODITY MARKET: GOLD AND SILVER PRICES START ON NEGATIVE BUT TURN INTO BULLISH

Domestic commodity market was trading mixed on Monday as crude oil and yellow metals prices were trading higher and at the same time Agri commodities were trading with negative note and base metals commodities were trading mixed. On MCX, Copper, Silver, Nickel, Crude oil, Gold futures were trading positively while rests other were trading negatively.

Commodities Buzz:

Gold prices started the day with negative note amid weak global cues but turned into positive in afternoon session and continued to extend their gains with recovery in international prices and rupee depreciation on Monday. In the international market, both gold and silver were trading positively. On MCX, Gold Feb futures rose 0.26% at ₹48828 per 10 gram. Silver Mar futures jumped 0.64% higher to ₹65180 per kg. MCXBULLDEX Jan delivery was trading 0.33 % higher at Rs. 15191 unit.

Crude oil was trading negatively throughout the session but turned into positive in the evening session. Crude Oil for January delivery traded 0.31 % higher at ₹3837.00 per barrel and touched an intraday high of ₹3852 and an intraday low of ₹3801 per barrel on the MCX. Natural Gas stood as the top loser, lose by 5.11% at ₹189.40 per mmBtu.

MCXMELTDEX Jan delivery was trading 0.11 % higher at Rs. 13646 unit. Base metals traded higher on Monday with Copper and Nickel prices rallied on demand growth optimism. Among Base metals commodities Copper stood as top gainer, gained by 0.80% at Rs. 610.15 per kg and Nickel jumped by 0.61% at Rs. 1320.80 per kg .Other commodities were trading on marginal negative in evening session.

Under Agri index, Cotton was trading down due to lower demand followed by Mentha oil and CPO. Cotton Jan future was trading down by 0.33% at Rs. 21030 per bales.