Gold steady, on track for second straight weekly gain

BENGALURU  - Gold held steady early on Friday and was on track for a second consecutive weekly gain after easing from a three-week high hit in the previous session.

FUNDAMENTALS

* Spot gold edged down 0.04 percent to $1,243.80 per ounce at 0049 GMT after touching a three-week high on $1,247.48 an ounce in the previous session. It has ri

Paytm aims to sell gold worth $200 million this year

By Nivedita Bhattacharjee and Sankalp Phartiyal

BENGALURU/MUMBAI  - Paytm plans to sell 5 tonnes of gold valued around $200 million this year, the digital payments firm said on Friday, as it strives to develop a viable business from its e-wallet platform.

E-wallets like Paytm, Citrus Pay and MobiKwik, which allow users to transfer money into virtual wal

White metal dips on feeble global cues

Silver futures were trading lower during the afternoon trade in the domestic market on Thursday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.

At the MCX, silver futures for Sept

Aluminium futures surge on rising demand

Aluminium futures were trading higher during the noon trade in the domestic market on Thursday as speculators raised bets, amid rise in demand at the spot market. Analysts said widening of positions by participants due to pick up in demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.

At the MCX, aluminium futures for July 2017 contr

Zinc futures up on increasing demand

Zinc futures were trading higher during the afternoon trade in the domestic market on Thursday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.

At the MCX, zinc futures for July 201

Yellow metal edges lower ahead of ECB meeting

Gold is trading in the red in the afternoon trade on Thursday as markets looked to a meeting of the European Central Bank (ECB) later in the day for clues on the outlook for its stimulus programme.

At the MCX, gold futures for August 2017 contract is trading at Rs 28194 per 10 grams, down by 0.20 per cent, after opening at Rs 28217, against a previous close of Rs 28250. It touched the

20/07/2017 12:50:14 PM | Posted in Commodity Top News read full news
Copper futures rise 0.45% on spot demand

Copper futures were trading higher during the noon trade in the domestic market on Thursday as traders widened their bets amid firm global cues. Analysts said, pick-up in demand from consuming industries in the spot market mainly supported the upside in copper futures.

At the MCX, copper futures for August 2017 contract is trading at Rs 388.00 per kg, up by 0.45 per cent, after openin

20/07/2017 12:48:38 PM | Posted in Commodity Top News read full news
Lead futures rise on pickup in demand

Lead futures were trading higher during the afternoon trade in the domestic market on Thursday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX, l

20/07/2017 12:25:27 PM | Posted in Commodity Top News read full news
Oil steady after drop in fuel stocks stokes demand hopes

SINGAPORE  -

Oil prices were steady on Thursday, holding gains made the previous session after falling U.S. crude and oil product inventories lifted the market.

Brent crude futures, the international benchmark for oil prices, stood at $49.72 per barrel at 0939 GMT, 2 cents up from their last settlement.

U.S. West Texas Intermediate (WTI) crude

20/07/2017 12:04:01 PM | Posted in Commodity Top News read full news
Mentha oil futures down on subdued demand

Mentha oil futures were trading lower during the morning trade in the domestic market on Thursday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil fro

20/07/2017 11:57:59 AM | Posted in Commodity Top News read full news
Cardamom futures up amid pickup in demand

Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom

20/07/2017 11:35:53 AM | Posted in Commodity Top News read full news
Gold inches down ahead of ECB meeting

BENGALURU -

 Gold prices edged lower on Thursday, with the dollar steady as markets looked to a meeting of the European Central Bank later in the day for clues on the outlook for its stimulus programme.

The ECB is expected to lay the groundwork for an autumn policy shift when it meets, emphasising improved growth while tempering expectations after previ

Yellow metal trading in red on profit booking

Gold is trading in red in early trade on Wednesday on account of profit booking amid tepid demand of precious metals by jewellers, investors and retailers. At the MCX, gold futures for August 2017 contract is trading at Rs 28204 per 10 grams, down by 0.17 per cent, after opening at Rs 28255, against a previous close of Rs 28253. It touched the intra-day high of Rs 28255 (at 12:30 hours).

Aluminium futures up on rising demand

Aluminium futures were trading higher during the noon trade in the domestic market on Wednesday as speculators raised bets, driven by rise in demand at the spot market. Analysts said widening of positions by participants due to pick up in demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.

At the MCX, aluminium futures for July 2017

Zinc futures rise on pickup in demand

Zinc futures were trading higher during the afternoon trade in the domestic market on Wednesday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.

At the MCX, zinc futures for July 20

Lead futures up on pickup in demand

Lead futures were trading higher during the afternoon trade in the domestic market on Wednesday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX,

Yellow metal trading in red on profit booking

Gold is trading in red in early trade on Wednesday on account of profit booking amid tepid demand of precious metals by jewellers, investors and retailers.

At the MCX, gold futures for August 2017 contract is trading at Rs 28204 per 10 grams, down by 0.17 per cent, after opening at Rs 28255, against a previous close of Rs 28253. It touched the intra-day high of Rs 28255 (at 12:30 hour

19/07/2017 12:48:51 PM | Posted in Commodity Top News read full news
Copper futures gain on spot demand

Copper futures were trading higher during the noon trade in the domestic market on Wednesday as traders widened their bets amid firm global cues. Analysts said, pick-up in demand from consuming industries in the spot market mainly supported the upside in copper futures.

At the MCX, copper futures for August 2017 contract is trading at Rs 389.50 per kg, up by 0.13 per cent, after openi

19/07/2017 12:35:03 PM | Posted in Commodity Top News read full news
Mentha oil futures up on spot demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday amid pick-up in demand at domestic spot market and restricted supplies from producing regions. Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oi

19/07/2017 11:49:22 AM | Posted in Commodity Top News read full news
Cardamom futures dip on subdued demand

Cardamom futures were trading lower during the morning trade in the domestic market on Wednesday as speculators booked profits at prevailing levels amid easing demand in the spot market. Analysts said besides profit booking by participants at existing level; fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

At the MCX, cardamom

19/07/2017 11:16:21 AM | Posted in Commodity Top News read full news
Oil dips on rising U.S. crude inventories, high OPEC supplies

SINGAPORE  - Oil prices fell on Wednesday after a rise in U.S. crude inventories and ongoing high output from OPEC producers revived concerns of a fuel supply overhang.

Brent crude futures, the international benchmark for oil prices, were at $48.81 per barrel at 0259 GMT, down 3 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futur

OPEC agrees on Saudi official as new head of research

By Rania El Gamal and Alex Lawler

DUBAI/LONDON  - OPEC's board of governors chose Saudi Arabia's candidate to be the group's new head of research in an appointment that went smoothly, two OPEC sources said on Tuesday, a sign political tension between Gulf members is not affecting decision-making.

Saudi Arabia's Ayed al-Qahtani was up aga

Gold prices inch down as dollar creeps away from multi-month lows

BENGALURU - Gold prices edged lower on Wednesday as the dollar took a breather after plunging to multi-month lows, although fading prospects for U.S. monetary tightening this year and political gridlock in Washington continued to pressure the greenback.

The dollar stayed on the defensive and remained near over 10-month lows as investors wagered any further tightening

Interview: Oil cuts working, market in balance by end-March - Kuwait minister

KUWAIT - The world oil market is taking longer than expected to rebalance but the glut should go by the end of March and OPEC need not take further action to curb supplies for now, Kuwait's oil minister said.

Essam al-Marzouq also told Reuters there was no need for the Organization of the Petroleum Exporting Countries to hold an extraordinary meeting before its sc

Zinc futures dip on subdued demand

Zinc futures were trading lower during the afternoon trade in the domestic market on Tuesday as speculators trimmed positions amid easing demand in the spot market. Analysts said offloading of positions by participants on the back of tepid demand in the spot markets, mainly led to decline in zinc prices at futures trade.

At the MCX, zinc futures for July 2017 contract was trading at R