Commodity Watch
02 Oct | 02:05PM
FUTURES PRICE(Near month contract prices)
Citi expects Brent to plunge to low $70s next year
Chief executive officers of Shell Plc, TotalEnergies SE and Occidental Petroleum Corp., among others, will later Monday discuss plans for the energy transition. UAE Energy Minister Suhail Al Mazrouei and OPEC Secretary-General Haitham al-Ghais are also scheduled to speak.
Oversold gold may slide further on elevated yields, firmer dollar
High US yields and a strong Dollar continue to act as headwinds against the metal as investors see the US Federal Reserve sticking to its high rate regime for a duration longer than previously expected.
Gold prices fall to six-month low. What’s bothering traders?
Gold had a firm start this year by gaining more than 13 percent in the first five-month period. Since then, it has consolidated in a tight range, and last week, it came out of the stiff support zone of $1880 an ounce.
Oil falls as macroeconomic concerns dampen price rally
Front-month Brent November futures were down 14 cents, or 0.15%, at $95.24 per barrel at 1442 GMT ahead of the contract's expiry later in the day. The more liquid Brent December contract was down 72 cents, or 0.77%, at $92.38 per barrel
Top News
Gold set for worst month in seven as traders bet on higher US rates Oil prices fall as Russia, Saudi Arabia expected to boost supply Oil climbs 3% as steep US crude stocks draw adds to supply concerns Gold Rate Today: MCX Gold falls by over Rs 1,700, silver tanks Rs 5,133 in September. Should you buy or sell? Gold hovers near six-month low as dollar, yields weigh Oil rises on US crude draws, tight global supply Oil jumps 3% as steep US crude stockdraw adds to supply concerns
Gold declines Rs 250; silver rallies Rs 1,200
Delhi spot gold prices fell to their lowest level since March 19, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
Calendar Spread
(Far - Near month contract)
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SPREAD (Rs)
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Calendar Spread
(Far - Near month contract)
Calendar Spread means entering a long and short position on the same underlying asset futures but with different delivery months. The strategy to play with calendar spread is to understand how much premium/discount two different contracts are trading at.(Far - Near month contract)
Disclaimer:These Strategies are not ET recommended its a market overview.
(Near Month Futures - Spot Price)
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FUTURES (Rs)
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PREM/DISC
Calender Spread
Premium = Futures Price > Spot Price
Discount = Futures Price < Spot Price
Its relevance in derivatives market is to understand the trend whether it’s bullish or bearish. Moreover it helps arbitrageurs and hedgers to decide on cost of carry.Premium = Futures Price > Spot Price
Discount = Futures Price < Spot Price
Disclaimer:These Strategies are not ET recommended its a market overview.
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Oversold gold may slide further on elevated yields, firmer dollar
High US yields and a strong Dollar continue to act as headwinds against the metal as investors see the US Federal Reserve sticking to its high rate regime for a duration longer than previously expected.
High US yields and a strong Dollar continue to act as headwinds against the metal as investors see the US Federal Reserve sticking to its high rate regime for a duration longer than previously expected.
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Goldman Sachs says oil’s going back to $100 as rally builds
With prices advancing by more than 30% since mid-June to breach $95 a barrel on Tuesday, Goldman Sachs nudged up its 12-month forecast for global benchmark Brent to $100 a barrel from $93. However, most of the rally in the vital commodity “is behind us,” the bank said in a note.
With prices advancing by more than 30% since mid-June to breach $95 a barrel on Tuesday, Goldman Sachs nudged up its 12-month forecast for global benchmark Brent to $100 a barrel from $93. However, most of the rally in the vital commodity “is behind us,” the bank said in a note.
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Why industrial commodity prices are under pressure
Going ahead, as the traditional demand drivers of industrial metals have stalled, the short-term price outlook remains under pressure. Though the new demand areas like the clean energy sector are on the cards, they are unlikely to boost prices in the immediate run.
Going ahead, as the traditional demand drivers of industrial metals have stalled, the short-term price outlook remains under pressure. Though the new demand areas like the clean energy sector are on the cards, they are unlikely to boost prices in the immediate run.
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High local prices may hit cardamom exports
India’s cardamom exports plunged 72 per cent year-on-year to 405 tonnes in the six months to September 2019.
India’s cardamom exports plunged 72 per cent year-on-year to 405 tonnes in the six months to September 2019.
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Oil prices fall on demand fears, headed for second weekly loss
Oil prices fell as demand concerns outweighed the prospect of tighter supply from global producers and investors remained sceptical that the US and Iran could strike a nuclear deal. However, there is both upside and downside pressure on prices, amid fears over tighter supply and expectations of higher demand as the US enters driving season being offset by worries over further US interest rate hikes and a slow pickup in China's fuel demand. For the week, both benchmark prices were on track for about 1% losses and for a second week of losses.
Oil prices fell as demand concerns outweighed the prospect of tighter supply from global producers and investors remained sceptical that the US and Iran could strike a nuclear deal. However, there is both upside and downside pressure on prices, amid fears over tighter supply and expectations of higher demand as the US enters driving season being offset by worries over further US interest rate hikes and a slow pickup in China's fuel demand. For the week, both benchmark prices were on track for about 1% losses and for a second week of losses.
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Wheat prices likely to slump in coming days
The central pool wheat stocks as of 12th December was 18.2 million MT (MMT) which is 50% lower than the previous year while by 1st January 2023 stocks would be near 15.9 MMT as per data published by the Ministry of Consumer Affairs, Food and Public Distribution.
The central pool wheat stocks as of 12th December was 18.2 million MT (MMT) which is 50% lower than the previous year while by 1st January 2023 stocks would be near 15.9 MMT as per data published by the Ministry of Consumer Affairs, Food and Public Distribution.
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Commodity outlook: Here is how agro-commodities may fare
Castor seed, chana, kapas and jeera recorded gains on NCDEX
Castor seed, chana, kapas and jeera recorded gains on NCDEX
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Mentha oil futures jump 6% intraday, 25% in August. Is correction on cards?
Commodity and currency expert Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi said that mentha oil prices have seen a dramatic rise in the last couple of weeks as supply-side fundamentals are seen tightening amid an expected drop in output during the 2023-24 season. "Output of this oil is seen declining for a second straight year and thus carryover stocks will shrink further by the end of the season," Qureshi said.
Commodity and currency expert Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi said that mentha oil prices have seen a dramatic rise in the last couple of weeks as supply-side fundamentals are seen tightening amid an expected drop in output during the 2023-24 season. "Output of this oil is seen declining for a second straight year and thus carryover stocks will shrink further by the end of the season," Qureshi said.
