MUMBAI: Commodities witnessed high volatility during Asian trades but were more or less steady before the markets opened in the US. While Bank of Japan is considering propping up the monetary system, the European economies are also working on stimulus packages. Nymex crude oil January contract rose as much as $1.24 cents to $50.66 per barrel, and was last traded at $50.56 per barrel. Crude oil futures have dropped 67% after touching a record $147.27 per barrel on July 11. Last night, crude oil December delivery declined $4.68 to expire at $49.42 per barrel. All active MCX crude oil contracts have lost over 4%. MCX December contract opened the session at Rs 2,628 per barrel, and was last quoted at Rs 2,577 per barrel, down 3%. Gold gained $18.9 to $759.7 per ounce in London. Silver added $0.40 to $9.28 per ounce. Platinum reversed most of the morning losses, and was last traded at $798 per ounce, up $29, as the markets expect a bailout package for the US auto sector. MCX gold December contract, after starting the day at Rs 12,116 per 10 gram, moved up to Rs 12,260 on increased buying activity. The contract was last traded at Rs 12,221 per 10 gram, up 0.92%. The silver December contract was last quoted at Rs 16,101 per kg, up 0.62%. Copper futures on the Shanghai exchange fell by the exchange-imposed daily limit... copper for February delivery ended at 26,950 yuan, down 8.4% for the week. Agri-commodities softened to end the session lower. NCDEX sugar December contract traded between Rs 1,778 and Rs 1,765 before ending the session at Rs 1,772 per quintal. MCX CPO near-month contract settled at Rs 247 per 10 kgs, up 0.61%. NCDEX soybean December contract settled at Rs 1,620 per quintal after moving between Rs 1,624 and Rs 1,550 per quintal. |
Published on 
Tags:
