Page 44 - Multi Commodity Exchange News Today

OPEC stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further demand gains in China.

Analysts say that the bullion charts indicate that there could be a short-covering rally

The exchange is set to go live with its new commodity derivative platform from Monday. The exchange will conduct a mock trading session on October 15.

Stocks to watch: Shares of firms like TCS, BoB, Cipla, JSW Steel, Glenmark, SpiceJet, Religare, and others will be in focus on Wednesday's trade.

Gold rate today: On October 10, on Multi Commodity Exchange, gold futures maturing on December 05, 2023 were trading at Rs, 57,713.

Analysts say this also because fund houses and central banks are shifting focus from the dollar to gold after the war in the Middle East

This came at a time when the Sensex rose by 1.53 per cent, while the BSE MidCap and BSE SmallCap gained 3.6 per cent and 1.13 per cent

Israel-Hamas war impact: While Israel produces very little crude oil, markets are worried that if the conflict surges it could hurt Middle East supply

This significant increase in gold prices comes on the heels of a substantial 1.6 percent surge on the previous day, representing its most substantial one-day gain in five months.

Stocks to watch: Shares of firms like Tata Motors, SBI, Adani Wilmar, PB Fintech, IndiGo, Lupin, and others will be in focus on Thursday's trade.