Page 59 - Ommodities News Today

Here is what you need to know on Wednesday, December 27: Following a long weekend, the US Dollar (USD) continued to weaken against its rivals on Tuesday.

Gold price hovers above $2,060 per troy ounce during the Asian session on Wednesday.

According to Geojit, Indias total exports of oil meal during 2023-24 (Apr-Mar) are projected at over 4.5 mln tn, up from 4.3 mln tn last year, Ajay Jhunjhunwala, president of the Solvent Extractors Association of India said in a press release on Monday.

Oil prices are set to pop higher with a pickup in demand. The demand comes from Indian refiners, the third biggest in the world, who are purchasing oil from nearby Middle Eastern countries for immediate delivery. The surge in demand comes as

Gold price has returned to the red for the first time in four trading days on Wednesday, pulling back slightly from two-week highs of $2,071 set on December 22.

Meanwhile, silver opened at Rs 75,231 per kg, hit an intraday low of Rs 75,110 on the MCX, and hovered around $24.40 per troy ounce in the international market.

In Wednesday's session, the XAU/USD Gold Spot price jumped towards $2,070, marking a 0.50% gain.

A revised reading on third-quarter GDP showed the US economy grew slightly less than initially expected.

According to Geojit, The government extended the policy to allow the import of crude soyoil, crude palm oil and crude sunflower seed oil at lower duty by another year till Mar 31, 2025, the Ministry of Finance said in an official notification.

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