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| As on May 17, 2021 12:00 AM |
Your results on : End Session |
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| India's Gold imports came in at Rs 46462.75 crores in April 2021, marking a massive spurt of 214906% compared to the lockdown affected April 2020 that recorded an import of just Rs 21.61 crore. However, Gold imports fell by around 25% compared to Rs 61827 crores in March 2021. Silver imports continued to fall, sliding 88% on year in April 2021 to Rs 88.60 crores. Powered by Commodity Insights |
| COMEX Gold futures rose further today, adding to gains in last session as sustained losses in the US dollar and a steady drop in India's Covid-19 cases boosted the metal. The US dollar index slipped near 90.30 mark, approaching its recent two and half month low. COMEX Gold futures added around 0.50% to trade at $1848 per ounce, hitting a three month high. The metal jumped more than 1% in last session. MCX Gold futures trade at Rs 47972 per 10 grams, up 0.62% on the day after hitting a high above Rs 48000 per 10 grams in intraday moves. India's daily fresh Covid-19 cases count fell under 3 lakh mark and indicated that the brutal second wave of the pandemic might have already hit a peak. Powered by Commodity Insights |
| UK house prices jumped to a new all-time high in May as demand continued to massively exceed supply, Rightmove said on Monday. The average price of property coming to market jumped GBP 5,767 to a record GBP 333,564 in May. House prices rose 1.8% month-on-month, following a 2.1% rise in April. The annual growth in prices accelerated to 6.7% from 4.9% in the previous month. Powered by Commodity Insights |
| Gold witnessed good recovery today amid sustained losses in the US dollar. The US dollar index currently quotes at 90.54, down 0.21% on the day ahead of the US retail sales data. The COMEX Gold futures had crashed to a one week low after the US retail inflation soared earlier in the week. The commodity steadied yesterday and moved up modestly. COMEX Gold futures currently trade at $1837 per ounce, up 0.69% on the day. Overall situation remained stressed on retail demand front in India but upbeat economic outlook in other major consuming nations like the US and China augured well for the metal. MCX Gold futures trade at Rs 47625 per 10 grams, up 0.39% on the day. Gains were curbed as the INR added to its recent rise. INR closed at 73.29 per US dollar, rising 13 paise on the day. The INR hit a near two month high of 73.22 per US dollar in intraday moves. Powered by Commodity Insights |
| The Solvent Extractors' Association of India (SEA) stated today that the imports of vegetable oils during April 2021 is reported at 1,053,347 tons compared to 798,715 tons in April, 2020, consisting 1,029,912 tons of edible oils and 23,435 tons of non-edible oils i.e. up by 32%. The overall import of vegetable oils during November 2020 to April 2021 is reported at 6,428,350 tons compared to 6,317,928 tons i.e. up by 1.7%. Powered by Commodity Insights |
Euro area industrial production rose 10.9 percent year-on-year in March after a 1.8 percent fall in the previous month, preliminary data from Eurostat showed Wednesday. Compared to the previous month, industrial production edged up 0.1 percent in March following a 1.2 percent fall in February. On a year-on-year basis, intermediate goods output increased 13.3 percent and capital goods production rose 16.1 percent. The biggest gain of 34.4 percent was registered in the manufacture of durable consumer goods. Energy output grew 3.3 percent and production of non-durable consumer goods rose 0.7 percent. Powered by Commodity Insights |
| The NCDEX Refined Soya Oil futures surged today amid good demand for the ready edible oils and firm global cues. The US Soybean futures continued to surge, adding gains above $16 per bushel mark to hit a fresh nine year high on firm trends in commodities and sustained supply worries. The commodity currently trades up 1.45% at $16.38 per bushel. The NCDEX Refined Soya Oil futures hit a fresh contract high near Rs 1450 per 10 kgs as well. The kharif sowing is continuing at a good pace and estimates of a normal monsoon is boosting hopes of an elevated harvest. Powered by Commodity Insights |
| COMEX Copper saw sustained gains despite heavy losses in global equities as markets focused on the proposed mining royalty tax in leading producer Chile. A recent slide in the LME Copper inventories and continued weakness in the US dollar also kept the red metal supported. European equities slumped and the US stock markets opened with heavy losses for a second session but Copper did not flinch. COMEX Copper futures are currently trading at $4.76 per pound, up around 1% on the day. The US dollar index has slumped near a two and half month low of 91 mark. MCX Copper futures are also up 1% at Rs 795.50 per kg. Powered by Commodity Insights |
| The WTI Crude oil futures edged up, consolidating around two month high amid supportive equities and a ransomware attack which caused Colonial Pipeline, which provides nearly half of the US east coast's fuel supply, to shut down its entire system on Friday. WTI Crude has been well supported after breaking above $60 per barrel and the slackness in the US dollar and generally firm undertone in commodities is benefitting the commodity. The WTI Crude oil futures are currently trading at $65.52 per barrel, up around 1% on the day. MCX Crude oil futures are also trading higher at Rs 4816 per barrel, up 1.11% on the day. Powered by Commodity Insights |
| COMEX Silver futures tracked firm Gold prices and the spirited rally in Copper to break above $27 per ounce mark. The white metal edged up to a two month high of $27.80 per ounce. Continued lax global monetary policy outlook and massive drop in the US dollar supported the metal. The US dollar index tanked near 90 mark- testing a two month low as weak labour market data reinforced hopes of the US Fed extending with its ultra-easy monetary stance. MCX Silver futures surged above Rs 70000 per 10 grams and hit above Rs 72000 per kg even as local spot demand was in a fix. Powered by Commodity Insights |
| COMEX Copper futures hit fresh a decade high of $4.75 per pound as traders eyed firm demand outlook and DOW hit record highs. MCX Copper also jumped amid these moves, hitting around Rs 790 per kg mark amid a buying frenzy. The global manufacturing upturn strengthened at the start of the second quarter. Production rose at the quickest pace in over a decade, as inflows of new work improved to the greatest extent in nearly 11 years. Pressure on capacity remained elevated, however, with average supplier lead times increasing to a record degree and the rate of growth in work backlogs at manufacturers hitting a 17-year high. The J.P.Morgan Global Manufacturing Purchasing Managers Index or PMI hit 55.8 in April, its best reading since April 2010. Of the 24 nations for which national PMI data were available, 21 saw business conditions improve, compared to only three signalling contractions. Powered by Commodity Insights |
| WTI Crude oil prices soared further to hit near a two month high as hopes of a firm demand supported sentiments. The crude consolidated thereafter in choppy trades to close the week just under $65 per barrel. MCX Crude oil futures approached Rs 4800 per barrel mark on firm global cues. Global trade outlook strong and the Baltic Dry Index (BDI), the key indicator for global dry freight rates spiked to 11-year high amid a surge in global commodity demand. The BDI is now up around highest level since June 2010. The Baltic Capesize Index - which is the main component in the BDI, accounting for 40% of the assessment and reflecting the 110,000-220,000-deadweight tonne segment - has more than doubled over the past month as well. Meanwhile, the Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 30. This was the largest crude oil draw since January. At 485.1 million barrels, US crude oil inventories are about 2% below the five-year average for this time of year. The US crude oil refinery inputs averaged 15.2 million barrels per day during the week ending April 30, 2021, which was 225,000 thousand barrels per day more than the previous week's average. Powered by Commodity Insights |
| COMEX Gold futures raced higher in last week as an all pervasive rally in commodities boosted the yellow metal amid a tepid movement in the US dollar index and continued buying support after the metal broke above the critical $1800 per ounce mark. COMEX Gold futures jumped to around three month high near $1830 per ounce. MCX Gold futures surged above Rs 48000 per 10 grams as well. The World Gold Council or WGC stated yesterday that Gold exchange traded funds or ETF outflows continue, but slowed with gold price strength in April. Global gold ETFs lost 18.3 tonnes (t) (-US$1.1bn, -0.6% AUM) in April, marking outflows for five of the past six months. However, global outflows slowed significantly, as European funds added assets for the first time since January. Global Gold assets under management (AUM) stand at 3,567t (US$203.0bn), after slipping below $200bn for the first time in over a year during March. Powered by Commodity Insights |
| The non farm employment growth in the US moderated in the month of April. The Labor Department data showed that non-farm payroll employment rose by 266,000 jobs in April after surging by a downwardly revised 770,000 jobs in March. The job growth in April was largely due to a sharp increase in employment in the leisure and hospitality sector, which added by 331,000 jobs as pandemic-related restrictions continued to ease in many parts of the country. The Labor Department also said the unemployment rate edged up to 6.1% in April from 6% in March. Powered by Commodity Insights |
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