Gold, Silver Price Today, 29 December 2021: On the Multi Commodity Exchange (MCX), gold futures due for a February 4 delivery, were last seen trading higher by Rs 101or 0.21per cent - at Rs 48,167
Not just gold & silver! Top bets to consider in commodities for FY22
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Analysts say while the precious metals may continue to move sideways in the near term, other pockets, such as agri-commodities, industrial metals and energy, seem to be offering upside potentials.
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After beginning Calendar 2021 with a bang, the commodity market seems to have taken a breather after a decent rally.
Gold and silver prices have eased 9-15 per cent from last year’s peaks on signs of economic recovery amid the Covid-19 vaccination drives, and moved in the ranges of $1,678-1,954 and $24-29 per ounce, respectively.
Crude oil futures drop 0.77% to Rs 3,863 per barrel on demand concern
In the futures market, crude oil for February delivery touched an intraday high of Rs 3,860 and an intraday low of Rs 3,828 per barrel on the MCX.
Source: Reuters
Crude oil futures edged lower to Rs 3,863 per barrel on January 28 as participants increased their short position as seen by the open interest. The crude oil prices declined on worries of fuel demand amid restriction imposed by nations to contain COVID-19 outbreak offsetting the huge drawdown in US crude inventories.
The US Energy Information Administration (EIA) reported that US crude inventories fell by 9.91 million barrels for the week ended January 22 as against market expectation of a rise of 0.4 million barrels.
Crude oil futures touch January series high of Rs 3,755, Brent trades near $55 a barrel
In the futures market, crude oil for January delivery touched an intraday high of Rs 3,755 and an intraday low of Rs 3,722 per barrel on the MCX.
Mumbai / January 07, 2021 / 05:19 PM IST
Crude oil futures climbed to Rs 3,741 per barrel on January 7 as participants increased their long position as seen by the open interest. Crude oil price rose after Saudi Arabia pledged additional production cut and a sharp decline in US crude stockpiles.
The US Energy Information Administration (EIA) reported that US crude inventories fell by 8.01 million barrels for the week ended January 1.