COMMODITY MARKET: ENERGY MARKET SEEN VOLATILE, CRUDE OIL DOWN BY 0.20%

Commodity prices opened higher on Monday after pulled back on the final trading day in February. Currently prices traded mixed. Cotton, Silver, Kapas, Gold, Copper, Natural Gas were trading with positively while Mentha oil, Aluminium, Nickel, Crude oil, CPO, Zinc, Lead were trading with negatively.

Commodities Buzz:

Gold traded with positively and saw a positive trend from early trade. Recovery in gold-silver prices is being seen today. The futures trade for April was up by 0.39% on the Multi Commodity Exchange at Rs 45916 per 10 gm. Apart from this, the futures trade of silver was up by 1.18% to Rs 69597 per kg. MCXBULLDEX Mar delivery was 0.63 % up at Rs. 14662 per unit.

Energy Market has seen heavy volatile on Today. On MCX crude oil March future fell by 0.20% at Rs. 4595 per barrel while Natural Gas Mar future was trading up by 0.10% to Rs. 206.10 per mmBtu. Crude Oil prices climbed in early trade thanks to progress in a huge U.S. stimulus package and on hopes for improving oil demand as vaccines are rolled out.

Base metals complex traded negatively. Copper stood as only gainer while rests of the metals were trading with marginal losses after weak China PMI data. Copper prices rallied throughout February hitting a 10-year high – up over 60% since the start of the year. Copper is not the only metal that has seen monumental gains in 2021.MCXMELTDEX Mar delivery down 0.09 % at Rs. 14801 unit. Aluminium, Nickel, Zinc, Lead were trading down by 0.66%, 0.52%, 0.11%, 0.03% respectively.

Agri Commodities also traded mixed with Cotton and Kapa future were trading higher while CPO and Mentha oil future were trading negatively in evening session.On MCX, Cotton stood as top gainer and Mentha oil was the top loser.