Page 18 - Ommodities News Today

We knew that yesterday was going to be a good day – at least for the stock markets, given that Nvidia defied the expectations that it would - maybe – fail to deliver $20bn sales in the latest quarter.

Very risk-on day in S&P 500 with only the opening two hours seeing some selling – the buyers prevailed till the close, assuming the reins 1-2 hours earlier than I anticipated.

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $78.00 on Thursday.

Gold price (XAU/USD) edges higher during the Asian session on Thursday, albeit remains below the 50-day Simple Moving Average (SMA) pivotal resistance, around the $2,032 area, or over a one-week high touched the previous day.

According to Geojit, Indias spices exports during Apr-Nov rose 6.1% on year to 953,303 tn, according to data from the Spices Board India. In terms of value, exports for the period rose 3.8% to $2.68 bln from $2.58 bln a year ago.

This is because of the impending release of the minutes of the US FOMC’s recent meeting

Here is what you need to know on Thursday, February 22: The US Dollar came lost its traction during the Asian trading hours on Thursday and declined below 104.00, pressured by the improving risk sentiment.

Gold price has resumed its bullish momentum near $2,030 early Thursday, having paused its recovery rally on Wednesday.

Silver (XAG/USD) builds on the overnight bounce from the 200-hour Simple Moving Average (SMA) support near the $22.75 area, or the weekly low and gains strong positive traction on Thursday.

Natural Gas (XNG/USD) is dropping the ball after its big gain on Wednesday, gaining over 12%. The decline this Thursday by over 4% comes very unlucky with Natural Gas not getting enough time to consolidate above $1.80. With that support