Page 23 - Multi Commodity Exchange News Today

Budget 2024 Expectations: The commodity markets in India are seeking several changes in the upcoming budget, including the reduction or abolishment of the Commodity Transaction Tax, addressing GST issues, providing adequate infrastructure for farmers, and others.

Meanwhile, silver opened at Rs 71,885 per kg and hit an intraday low of Rs 71,590 on the MCX. The price hovered around $22.78 per troy ounce in the international market.

The MCX stock hit a record high of Rs 3,343 on December 8, 2024, but failed to hold on to the momentum. It found support above the 50-DMA on the daily charts earlier in January and bounced back. It looks like the stock has formed a strong base above 3,000 level and traders can take advantage of the momentum, which could push the stock to a fresh record high in the short- to medium-term, suggested experts.

Analysts say Signs of sticky US inflation and continued labour market strength capped gains for precious metals

The Chinese central bank’s decision to keep rates unchanged is being seen as a reflection of the cautious approach central banks around the world are taking

Gold Rate Today: In Mumbai, the present price for 10 grams of 22-carat gold is Rs 57,800, while an equivalent quantity of 24-carat gold is valued at Rs 63,050.

​​The continued linked the prosperity of the market on the agility of policies, adherence to principles of fairness, and timely adaptations to meet the evolving needs of both the market and its investors

The establishment of these commodity exchanges has catalysed a domino effect, leading to the creation of vital infrastructure such as warehouses, cold storage facilities, quality testing mechanisms and transportation networks, , India’s Commodity Markets, $30 Trillion Economy

Investors are looking out for further clarity on the US Federal Reserve's future interest rate path after series of positive data points from the US

Gold Price Today January 19, 2024: Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Friday. Check the latest city-wise prices here.