Commodities prices traded mixed in evening session. Currently, Nickel, Gold, Mentha oil, Kapas traded positively while rest others were traded negatively. The dollar index and US bond yields eased from recent highs capping downside limited in commodities.
Bullion prices traded flat, with positive bias. MCXBULLDEX was up by 0.04% at 14232.Gold future turned into positive after a gap down start. On the Multi Commodity Exchange (MCX), gold April future was trading positively up by 0.19 % to Rs.44990 per 10 gram. On other hand, Silver May futures were down 0.22 % to Rs.66186 per kg. Gold prices traded with gains on Tuesday reflecting overnight gains in global precious metal prices. Silver prices are trading under pressure with selling in industrial metals.
Oil prices fell nearly 4% on today on concerns that new pandemic curbs and slow vaccine rollouts in Europe will slow a recovery in fuel demand and as producers cut prices, indicating ample oil supply. The crude oil prices traded in the negative territory after a gap-down start. Crude futures for April delivery fell 3.71%, to Rs.4311 a barrel. Natural Gas Mar future traded lower by 0.54% to Rs. 185 per mmBtu as participants increased their short positions as seen by the open interest.
Base metals complex witnessed selling on Tuesday as most of the metals traded weak following Aluminium prices. Aluminium prices at Shanghai plunged 6 per cent hitting the daily limit on speculation that China may release some reserves stockpiles to ease glut. Copper and Zinc prices traded weak on broad selling in industrial metals while pandemic worries in Europe has put additional pressure on the prices with weaker Euro. Nickel Mar future stood as gainer in base metal. MCXMELTDEX traded down by 0.51% at 13922.
Agri commodities traded mixed as CPO and Cotton traded lower while Mentha oil and Kapas traded higher.