Domestic Commodity markets ended the week mixed with total turnover increased by 5.64% at Rs. 15319183.71 lakh in various futures & option contracts for commodities listed at MCX during the week 25th to 29th Jan 2021. Commodity market closed on 26th Jan as on Republic day.
Base Metals commodities ended the week with negatively where all of the base metals were the weekly losers except Aluminium Jan delivery. Nickel Jan delivery ended negatively with loss of 1.10% as compared to previous week close. Zinc Jan future also expired on Friday and ended with loss of 1.75% as against previous week close. Lead loses above 3 % in this week at Rs. 160.90 per kg and Copper Jan delivery declined by 0.26% to Rs. 603.70 per kg due to lower demand. Aluminium Jan delivery expired with 3.27% gains compared to its previous close but Feb future ended with losses of 0.18 %.
Oil prices fell weighed down as investors looked for signs of changing supply and demand fundamentals. Crude oil Feb posted a weekly loss of 0.39% at Rs. 3820 per barrel. Natural gas futures settled at Rs.191.50 jumped 5.74% on this week after a decline of nearly 10% in last week.
Gold future ended the last day of trading with positively but not recovered the weekly and monthly losses. Gold rates declined, pressurized by a stronger US dollar. Gold Feb future saw a 0.09% decline at Rs. 49096 per 10 gms. But Silver Mar future increase by 4.60% at Rs. 69706 per kg. Silver surged after some traders moved to cover short positions on rumors about a GameStop-style squeeze driven by retail investors.
Under Agri commodities, Cotton Jan future loses 1.09 % while Mentha oil and CPO were the weekly gainers. Mentha oil Delivery ended the week 15.46% up and CPO Jan up by 2.96%.