Page 62 - Ommodities News Today

Here is what you need to know on Thursday, December 21: Major currency pairs stay relatively calm early Thursday as investors wait for the US Bureau of Economic Analysis to publish final revisions to the third-quarter Gross Domestic Product (GDP) data.

Gold price (XAU/USD) regains positive traction on Thursday and reverses a major part of the previous day's downfall amid the underlying bearish sentiment surrounding the US Dollar (USD).

Natural Gas (XNG/USD) prices are recovering from the profit taking that occurred on Wednesday by short-term traders that profited from the Gas price rally fueled by geopolitical tension in the Red Sea. The upward squeeze following  rising tensions

West Texas Intermediate (WTI) price hovers around $74.00 per barrel during the Asian session on Thursday, following losses in the previous session.

According to Geojit, The area under rabi crops in Gujarat fell 1% on year to 4.07 mln ha in the current season as of Monday, according to data from the state agriculture department.

Analysts say market participants will focus today on US Q3 GDP data and weekly jobless claims

In Thursday's trading session, the Silver's spot price XAG/USD edged higher and reached a level of around $24.30.

"Rising energy output will be a tailwind to real GDP growth in Q4 of 2023, and will contribute to lower risk of a US recession in 2024."

Gold price (XAU/USD) consolidates its gains around $2,040 during the early Asian trading hours on Wednesday.

26 mines in govt’s 9th round of commercial coal mine auction in Top News on December 20: DOMS Industries IPO listing, Share market, Bank Nifty outlook, Kia Sonet facelift bookings open also in focus.