Below the Quote on Gold & Silver by Anindya Banerjee, SVP, Head of Research, Currency, Commodity & Interest Rates, Kotak Securities
MCX Gold and Silver prices faced significant selling pressure following a reduction in basic customs duty from 10% to 5%, and a decrease in AIDC from 5% to 1%, resulting in a total import duty of 6%. This move has led to a sharp decline in prices, with Gold down by Rs. 4000/10 grams and Silver plummeting by Rs. 4090/kg.
While cheaper...
Quote on Gold & Silver by Anindya Banerjee, SVP, Head of Research, Currency, Commodity & Interest Rates, Kotak Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold prices held above $2,400, breaking a four-day losing streak on Tuesday, as the market awaited clarity on the Fed's first interest rate cut. Today, Comex Gold continues to hold gains, trading above $2410 per ounce amid anticipation of upcoming US data releases that could support Fed rate cuts. US personal consumption expenditures, Fed’s preferred underlying inflatio...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Indian farmers have accelerated the planting of summer-sown crops, such as paddy, soybean, cotton, and corn, following above-average monsoon rainfall in July that came after a deficit in June, according to government data.
Summer rains, critical for economic growth in Asia's third-largest economy, usually begin in the south around June 1 before spreading nationwide by July 8, allowing farmers to plant summer crops.
But in June India received 11% less rain than average, after the mon...
Indian farmers rush to plant summer crops as monsoon revives