Commodity markets: Business with recovery in gold-silver, business with recovery in crude
A fall in US yields supported gold on demand, where prices rose above $1895 on the Comex, while the domestic market is trading around the 58195 level. Here, the softening of the dollar index is also having a positive effect.
Recovery was also seen in gold along with silver, where the global market saw prices reaching close to 22 dollars, while the domestic market is trading around the 69,930 level with a rise of over five percent.
So due to the decrease in crude supply concerns due to geo tension, recovery is being seen in crude oil. Where Brent prices were seen passing 86 dollars. So nymex also saw a bullish trend. While the crude oil in the domestic market saw a flat performance.
A selling situation is seen in natural gas in the domestic market. Natural gas prices were seen climbing around 275 with prices rising by a quarter of a percent.
Metals recovered from lower levels on hopes of a relief package from China, with copper and zinc the best buyers in the domestic market. While pressure was seen in aluminum from the upper level, selling in lead is seen as the same. So on the LME, pressure was seen in all metals except copper.
Masala Pack broke the pressure of early business. Where cumin has seen the highest growth of over one percent, turmeric and coriander have seen modest growth. At that time, the sales situation is being seen in guar packs. Where Guar Gum and Guar Seed are showing softness above half percent. So the sale is being observed in the cotton field.