Page 64 - Ommodities News Today

Attacks on ships passing through a vital trading route have reignited fears about higher oil prices and could drive up inflation.

Oil prices have ample room to manoeuvre higher with more geopolitical tensions being added. Already earlier this week the eruption of attacks by Houthi rebels in the Red Sea sparked enough concern for all main freight operators to divert their fleet

In Wednesday's trading session, the XAU/USD Gold spot price witnessed a strong downward trend, currently trading at approximately $2,030.

Silver (XAG/USD) regains some positive traction on Tuesday and sticks to its modest intraday gains through the early part of the European session.

Gold price is clinging to previous gains above $2,020 in the Asian trading hours on Tuesday, as risk sentiment remains in a weaker spot amid lingering Middle East geopolitical tensions and ahead of key inflation data from the United States (US) later this week.

Good Morning! Dollar Index has moved up well above 102 and could test 103-103.50 before coming off while Euro is bearish below 1.0965 for a fall towards 1.0850/1.08.

According to Geojit, The National Commodity and Derivatives Exchange Ltd is set to launch trading in mini futures contracts of jeera from 19 Dec, the exchange said in an official release.

Analysts say appreciation in the Rupee, which is trading at a 3-month high against the dollar, is checking the appreciation in Bullion prices

Gold price (XAU/USD) fails to capitalize on the previous day's modest uptick and oscillates in a narrow range during the Asian session on Tuesday.

Gold prices rose in India on Tuesday, according to data from India's Multi Commodity Exchange (MCX).