Page 20 - Ommodities News Today

Gold price moves slightly lower on Tuesday after halting its three-day winning streak, inching lower to near $2,018 per troy ounce during the Asian trading hours.

Gold price is trading on the back foot below $2,020 early Tuesday, following a positive start to the week and logging a three-day recovery rally.

According to Geojit, Mills in the country produced 22.37 mln tn of sugar from Oct 1, 2023, till Feb 15, 2.5% lower than the corresponding period a year ago, the Indian Sugar & Bio-energy Manufacturers Association said in a press release today.

Natural Gas (XNG/USD) is jumping back above $1.64 and is trying another attempt to snap its losing streak. The countermove gets a bit of help from the US Dollar which is retreating a touch just hours before the US opening bell. Selling pressure

Analysts say the focus will now shift to the minutes of the US FOMC meeting, which is expected to show broad consensus for rate cuts this year

The canola market continues to look for good news that may point to a bottoming of the price outlook. Canola prices, along with soybeans, have dipped to near three-year lows

Gold price (XAU/USD) holds above $2,000 during the early Asian session on Monday.

According to Geojit, Farmers in Gujarat have sown crops across 14,651 ha for the 2023-24 summer season as of Monday, according to data released by the state agriculture department.

Amidst these mixed sets of data points, US yields and the dollar index hold firm; but analysts expect lower volatility on the back of holidays in the US

Gold price sets off the new week on the front foot, as buyers extend the previous week’s recovery mode into Monday.