MUMBAI: The markets continue to witness choppy trend amid growing fears of slowdown in the global demand for commodities. Crude oil led the decline in prices while precious metals were steady today. Nymex crude oil came off its 21-month low during Asian trades after US industrial production gained increasing expectations that fuel demand may improve. Near-month settlement contract rose to $55.86 per barrel but have since corrected to the current level of $54.60 per barrel, down 0.64%. Last night, crude oil prices rose because of colder weather and the hijacking of a Saudi Arabian tanker. All active MCX crude oil contracts were quoted lower by 2-3%. MCX December settlement contract opened the session at Rs 2,867 per barrel, and was last quoted at Rs 2,795 per barrel - down 2.9%. In London, gold was last traded at $738.50 an ounce, up $0.2. Silver was quoted at $9.37 an ounce. Paltinum added $9 to trade at $819 an ounce. MCX gold December contract, after starting the day at Rs 11,860 per 10 gram, was last quoted at Rs 11,868 per 10 gram. Silver was quoted at Rs 16,276 per kg - down 0.33%. NCDEX sugar December settlement turned higher ahead of hearing in the Uttar Pradesh High Court. Millers are protesting against the high sugarcane MSP price in the state. Crushing is expected to be delayed, which, in turn, would lead to fall in sugar supplies. The December contract was traded between Rs 1,789 and Rs 1,772, and was last offered at Rs 1,783 per quintal. CPO prices opened stronger on MCX.... the near-month contract was last traded at Rs 237.40 per 10 kg, down 2%. NCDEX soybean December contract was last traded at Rs 1,541 per quintal. |
Published on 
Tags:
