Page 2 - Head Commodity News Today

The rupee was little changed at the opening time on Friday amid expectations that the countrys central bank will intervene, which countered weak risk appetite, a stronger US dollar and rising oil prices.

India Business News: Gold prices reached a new all-time high on Thursday, influenced by global commodity prices. US Fed Chair Jerome Powell's statement, indicating that recent job numbers and higher-than-expected inflation wouldn't change the central bank's monetary strategy much, boosted investor confidence in gold, sparking increased buying activity.

​Gold hit yet another lifetime high in the opening trade on Thursday taking cues from the international commodity prices. US Fed chair Gerome Powells statement that the recent job numbers and higher-than-expected inflation readings do not significantly alter the central banks monetary strategy, lifted the investor mood for bullion triggering a fresh wave of buying activity.

Kotak Institutional Equities expressed concerns over OMCs capex plans due to limited pricing freedom. Governments petrol and diesel price cut, along with rising crude oil prices, may impact energy stocks like HPCL, IOC, and BPCL.

Gold prices on MCX and silver futures surged, driven by US Federal Reserves rate cut hopes and geopolitical tensions. Analysts project bullish trajectory.

The MCX June gold futures were trading at Rs 68,644 per 10 grams around 9:10 am, rising Rs 313 or 0.46% while May silver futures were trading at Rs 76,076 per kg, higher by Rs 544 or 0.72%.

Gold prices hit a lifetime high of Rs 69,487 on Monday, driven by global factors. Anuj Gupta advises buying MCX June gold at Rs 67,900 and MCX March silver at Rs 76,050.

The MCX April gold futures were trading at Rs 66,491 per 10 grams, rising Rs 124 or 0.19% while May silver futures were trading at Rs 74,808 per kg, higher by Rs 146 or 0.20%.

The Dollar Index (DXY) is hovering above the 104 mark against a basket of six top currencies at 104.39, up by 0.16 points or 0.16%. It has gained 0.95% over the past five trading sessions.

The MCX April gold futures were trading at Rs 65,900 per 10 grams, down by Rs 121 or 0.18% while May silver futures were trading at Rs 74,780 per kg, lower by Rs 143 or 0.19%.