COMMODITY MARKET: NATURAL GAS RISE NEARLY 2%; BASE METALS PRICES TRADE UP

Domestic commodity market was trading mixed on Monday. On MCX, Natural Gas stood as top gainer while CPO was top loser in evening trading session.

Commodities Buzz:

Gold prices in India started the day with negative and continued its negative trend in the morning session and turned into positive in the evening session. In global markets, Gold prices edged higher on optimism that US lawmakers will soon pass the massive economic stimulus to revive the world's largest economy. On the Multi-Commodity Exchange (MCX), February gold contracts were trading lower by 0.04 percent at ₹ 49195 for 10 grams. March silver was trading 0.27 percent lower at Rs 66825 a kilogram. MCXBULLDEX Feb delivery was trading 0.16 % higher at ₹ 15365 unit.

Oil prices slipped for a second straight session on Monday as renewed Covid-19 lockdowns raised fresh concerns about global fuel demand.Crude oil for the February delivery declined by 0.08 per cent, to ₹3832 per barrel and touched an intraday high of ₹3869 and an intraday low of ₹3816 per barrel. Crude oil futures rose in the medium term of the day due to spot demand. on Natural Gas Feb delivery traded higher by 1.93% at Rs. 184 per mmBtu.

MCXMELTDEX Feb delivery was trading 0.11 % higher at 13768 unit. All the Base metals were trading positively due to higher demand except Copper. Aluminium, Lead, Nickel, Zinc were trading marginally up by 0.55%, 0.21%, 0.20%, 0.14% respectively.

Under Agri index, Cotton Jan delivery was trading flat.CPO was trading down above 1% while Mentha oil was up by 0.04% at ₹. 974.00 per kg.