Commodity prices traded mixed on Friday as base metals and energy segment were traded with gains while Bullion prices traded lower and agri commodities were mixed. Currently, Crude oil, CPO, Cotton, Zinc, Nickel, Aluminium, Silver, Lead, Natural were trading positively while Kapas, Mentha oil, Gold were trading negatively.
Bullion prices traded weak while MCXBULLDEX was traded flat. Precious metals witnessed selling on stronger dollar as investors and traders weighed weak euro and peer currencies, boosting buying in dollar. The rise in bond yields on treasury auction also pressured bullion prices to trade weak despite of pandemic worries across Europe. Gold futures on Multi Commodity Exchange (MCX) were down 0.21 % at Rs 44600 per 10 grams. Silver May futures gained 0.37% to Rs 65110 per kg.
The energy commodity extended gains on Friday after a plunge a day earlier on concerns that a large container ship that ran aground in the Suez Canal may block the vital shipping lane for weeks, squeezing supply. Prices, however, were still headed for a third consecutive weekly loss. Crude oil Apr future was higher by 2.54% at Rs. 4363 per barrel after dropping nearly 3% on Thursday.Natural Gas Mar future was trading up by 0.10% to Rs. 191.10 per mmBtu.
Base metals complex traded up with most of the metals kept to positive trading on higher demand expectations. MCXMELTDEX traded up by 0.67% at 13816.Copper, Zinc, Nickel, Aluminium, Lead gained by 1.01%, 0.74%, 0.67%, 0.48%, 0.28% respectively.
Agri commodities traded mixed as CPO and cotton were traded with gain while Mentha oil and Kapas were traded negatively. CPO Mar future was trading higher by 2.11% at Rs. 1135 per 10 kg and Cotton Apr future was up by 1.36% at Rs. 20940 per bales. Kapas and Mentha oil Apr futures lose by 1.10% and 0.30% receptively.