In the latest commodity market update India, trading activity saw a clear divergence across different asset classes. Precious metals, including gold and silver, witnessed a sharp rally on the Multi Commodity Exchange (MCX), supported by strong spot market demand and renewed speculative buying. In contrast, crude oil futures edged lower, reflecting weaker global demand signals. Industrial metals such as aluminium, copper and zinc also recorded gains, adding momentum to the broader commodity basket.
Gold futures on the MCX for October delivery surged by ₹243 to settle at ₹1,00,400 per 10 grams, marking a 0.24% rise. This upward movement mirrored trends in the international market, where Comex December gold futures climbed 0.24% to $3,356 per ounce. The rally was largely attributed to sustained physical buying and safe-haven demand amid ongoing geopolitical uncertainties.
Silver futures followed a similar trajectory, with September contracts on MCX jumping by ₹1,162 to close at ₹1,14,899 per kilogram, registering a 1.02% increase. Global silver prices also strengthened, with the precious metal trading 1.24% higher at $38.38 per ounce on Comex. Market analysts noted that fresh speculative positions and strong demand from industrial users contributed to the rally.
Commodity Market Update India: Industrial Metals Extend Gains
Industrial metals continued their positive run in today’s trading session. Aluminium prices increased by 15 paise to ₹256 per kilogram, benefiting from robust spot market activity and sustained investor interest. Copper futures gained 0.24% to end at ₹899.30 per kilogram, supported by steady demand from the construction and manufacturing sectors. Zinc prices also edged higher by 5 paise to ₹272.40 per kilogram, reflecting a healthy demand outlook from galvanising industries.
Commodity Market Update India: Crude Oil Futures Decline
While metals witnessed gains, crude oil prices moved in the opposite direction. On the MCX, crude oil contracts for delivery fell by ₹23 to ₹5,483 per barrel as spot market demand weakened. The downtrend in crude was mirrored in global benchmarks, with West Texas Intermediate (WTI) crude dropping 0.38% to $62.93 per barrel and Brent crude slipping 0.30% to $65.92 per barrel. Analysts pointed to concerns about slowing global economic growth and potential demand weakness as key factors behind the fall.
Commodity Market Update India: Agricultural Commodities See Mixed Trend
Agricultural commodities traded on the National Commodity & Derivatives Exchange (NCDEX) witnessed mixed trends during the session. Guar seed prices slipped by ₹26 to settle at ₹5,265 per quintal due to ample supply in producing regions. Guar gum also fell, losing ₹66 to close at ₹9,852 per quintal, amid sluggish export demand. Coriander prices declined by ₹20 to ₹7,910 per quintal as traders reported weak spot demand. In contrast, cottonseed oil cake futures gained ₹19 to reach ₹3,356 per quintal, supported by higher demand from the cattle feed industry.
Overall, the commodity market update India reflects a day of contrasting movements, with precious and industrial metals outperforming, crude oil under pressure, and agricultural commodities showing a mixed pattern. Market participants continue to monitor global economic data, currency movements and geopolitical developments to gauge future price direction.
Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.
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