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India steel imports from China hit record high, data shows  India's finished steel imports from China reached an all-time high during the first eight months of the fiscal year to March 2025, provisional government data showed, adding to concerns among domestic mills about cheap shipments from China. Total imports of finished steel were at an eight-year high with India, the world's second-biggest crude steel producer, a net importer during the period. India shipped in 6.5 million metric tons of finished steel, a 26.6% increase year-...
India steel imports from China hit record high, data shows
India steel imports from China hit record high, data shows
Source: Reuters
2024-12-21 10:30:48 am
Cabinet hikes MSP for Copra to Rs 12,100 per quintal The Cabinet Committee on Economic Affairs on Friday hiked the Minimum Support Price (MSP) for fair average quality of milling copra to Rs 11,582 per quintal and for ball copra to Rs 12,100 per quintal for the 2025 marketing season, according to an official statement.  The MSP has been increased in accordance with the government’s decision that mandates the MSP for crops will be fixed at levels of at least 1.5 times the all-India weighted average cost of production, the statement...
Cabinet hikes MSP for Copra to Rs 12,100 per quintal
Cabinet hikes MSP for Copra to Rs 12,100 per quintal
Source: IANS
2024-12-21 09:30:02 am
Gold set for weekly drop; traders await US data for cues Gold prices were set for a weekly decline on Friday after the Federal Reserve's verdict on its monetary policy-easing cycle signalled a slowdown in rate cuts, while focus shifted to the U.S. Personal Consumption Expenditure data due later in the day. Spot gold was little changed at $2,596.89 per ounce, as of 0326 GMT, and has lost about 2% so far this week. U.S. gold futures nudged 0.1% higher to $2,611.30. Gold is consolidating as "investors await Trump to resume office nex...
Gold set for weekly drop; traders await US data for cues
Gold set for weekly drop; traders await US data for cues
Source: Reuters
2024-12-20 10:23:36 am
Oil prices fall on demand concerns, strong dollar Oil prices fell in early trading on Friday on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the week down more than 2%. Brent crude futures fell by 31 cents, or 0.43%, to $72.57 a barrel by 0139 GMT. U.S. West Texas Intermediate crude futures fell 26 cents, or 0.26%, to $69.12 per barrel. Chinese state-owned refiner Sinopec said in its annual energy outlook, released on Thursday, that China's imports could ...
Oil prices fall on demand concerns, strong dollar
Oil prices fall on demand concerns, strong dollar
Source: Reuters
2024-12-20 09:01:53 am
India`s coal imports dip as domestic production rises  India's coal imports declined by 3.1 per cent to 149.39 million tonnes (MT) during April-October period of FY 2024-25 from 154.17 MT in the same period of the previous year due to the increase in domestic production, according to an official statement issued on Thursday.  Additionally, the Non-Regulated Sector (other than power) witnessed a more significant drop of 8.8 per cent, during April-October 2024 as compared to the same period of last year. Despite possessing the ...
India`s coal imports dip as domestic production rises
India`s coal imports dip as domestic production rises
Source: IANS
2024-12-19 06:05:31 pm
India`s milk market stable with low inflation rates in November: Government The overall milk situation in the country is stable with the year-on-year Wholesale Price Index and (WPI) and Consumer Price Index (CPI) inflation rates for milk recorded at low levels of 2.09 and 2.85, respectively, for the month of November 2024, Department of Animal Husbandry & Dairying (DAHD) Secretary Alka Upadhyaya, said at a review meeting here, an official statement said on Thursday.  "There is an adequate commodity stock of skimmed milk powder, whole milk powder, whi...
India`s milk market stable with low inflation rates in November: Government
India`s milk market stable with low inflation rates in November: Government
Source: IANS
2024-12-19 05:28:01 pm
Gold recovers from one-month low on short-covering Gold prices jumped more than 1% on Thursday on short-covering after dipping to the lowest in a month earlier in the session, while the market awaited key U.S. data for further cues on the Federal Reserve's policy trajectory. Spot gold gained 0.8% to $2,607.88 per ounce as of 0251 GMT. However, U.S. gold futures eased 1.2% to $2,620.60. "Very short-term oriented speculators are looking for opportunities to buy the dips and gold's gain is because of short-covering after the m...
Gold recovers from one-month low on short-covering
Gold recovers from one-month low on short-covering
Source: Reuters
2024-12-19 09:12:26 am
India re-examining record Nov gold imports, sources say The Indian government is re-examining a surge in gold imports that widened the country's trade deficit to a record in November and pushed the rupee to an all-time low, two government sources aware of the matter told Reuters. Bloomberg News reported earlier that officials double-counted gold shipments in warehouses following a change in methodology in July, leading to a calculation error. India's Directorate General of Commercial Intelligence and Statistics (DGCIS) has taken up a...
India re-examining record Nov gold imports, sources say
India re-examining record Nov gold imports, sources say
Source: Reuters
2024-12-19 09:03:23 am
Oil falls on demand concerns after Fed signals slower easing ahead Oil prices fell in early trading on Thursday after the U.S. Federal Reserve signalled that it would slow the pace of interest rate cuts in 2025, potentially impacting fuel demand. Brent futures fell 33 cents, or 0.45%, to $73.06 a barrel by 0107 GMT. U.S. West Texas Intermediate crude fell 36 cents, or 0.51%, to $70.22. The falls reverse much of the gains from Wednesday, when prices settled higher as U.S. crude stocks fell and the U.S. Federal Reserve cut interest rates by an expected 2...
Oil falls on demand concerns after Fed signals slower easing ahead
Oil falls on demand concerns after Fed signals slower easing ahead
Source: Reuters
2024-12-19 08:56:52 am
Indian mills can export up to 2 million tons of sugar this season, industry says  India's sugar mills can easily export up to 2 million metric tons of the sweetener this season as domestic supply prospects improve and local prices show a downward trend, the head of a leading industry body said on Wednesday. "The supply situation looks better than initially expected, which is why the government should allow mills to export at least a million or a couple of million tons of sugar," Deepak Ballani, director general of the Indian Sugar Mills Association, ...
Indian mills can export up to 2 million tons of sugar this season, industry says
Indian mills can export up to 2 million tons of sugar this season, industry says
Source: Reuters
2024-12-18 06:24:55 pm
Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme  The Centre, during the 2023-24 rabi season, has procured 6.41 lakh metric tonnes of pulses at an MSP value of Rs 4,820 crore which has benefited 2.75 lakh farmers, according to a statement issued by the Ministry of Agriculture & Farmers Welfare on Wednesday.  The procurement to support the farmers included 2.49 lakh metric tonnes (LMT) of masoor, 43,000 MT of chana, and 3.48 LMT of moong. Similarly, 12.19 LMT of oilseeds of Rs 6,900 crore of MSP value were procured from 5...
Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme
Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme
Source: IANS
2024-12-18 04:10:19 pm
Surging gold imports threaten India's trade balance; government should take urgent action: GTRI The Global Trade Research Initiative (GTRI) has said that India's gold imports have surged alarmingly, posing a potential threat to its trade balance and economic stability, and the government should take action to address this issue. According to commerce ministry data, the country's gold imports in November 2024 reached a record high of $14.86 billion, registering a four-fold increase, mainly on account of festival and wedding demands. Gold imports stood at $3.44 billion in November...
Surging gold imports threaten India's trade balance; government should take urgent action: GTRI
Surging gold imports threaten India's trade balance; government should take urgent action: GTRI
Source: Accord Fintech
2024-12-18 12:12:20 pm
Domestic gold jewellery consumption to grow 14-18% in current fiscal in value terms: ICRA ICRA in its latest report has said that the domestic gold jewellery consumption in value terms is expected to continue its growth momentum in the current financial year and is likely to witness an on-year rise of 14-18 per cent. It said gold jewellery consumption growth had witnessed a growth of 18 per cent in 2023-24, primarily driven by realisations even as volume growth was subdued. According to the report, while gold prices were volatile, improving consumer sentiments and festive-led d...
Domestic gold jewellery consumption to grow 14-18% in current fiscal in value terms: ICRA
Domestic gold jewellery consumption to grow 14-18% in current fiscal in value terms: ICRA
Source: Accord Fintech
2024-12-18 10:43:48 am
Gold prices edge higher with focus on Fed`s policy decision Gold prices edged higher on Wednesday as attention turned to the Federal Reserve's upcoming monetary policy decision, with the U.S. central bank anticipated to implement a third rate cut this year and provide insights into its plans for 2025. Spot gold nudged 0.1% higher to $2,648.43 per ounce by 0237 GMT. U.S. gold futures were flat at $2,663.20. The U.S. Fed began its two-day policy meeting on Tuesday, with focus on the central bank's updated economic projections and the dot p...
Gold prices edge higher with focus on Fed`s policy decision
Gold prices edge higher with focus on Fed`s policy decision
Source: Reuters
2024-12-18 09:12:19 am
Oil prices little changed ahead of Fed rate decision  Oil prices traded in a narrow range early on Wednesday as investors remained cautious ahead of an expected interest rate cut by the U.S. Federal Reserve. Brent futures inched up 12 cents, or 0.16%, to $73.31 a barrel by 0134 GMT, while U.S. West Texas Intermediate crude rose 11 cents, or 0.16%, to $70.19 a barrel. The Fed on Wednesday is widely expected to cut interest rates for the third time since its policy easing cycle began. More important for the oil market will be any co...
Oil prices little changed ahead of Fed rate decision
Oil prices little changed ahead of Fed rate decision
Source: Reuters
2024-12-18 09:04:22 am
India`s gold jewellery purchase poised to surge 18 per cent in 2024-25: ICRA The domestic gold jewellery consumption (in value terms) is expected to continue its momentum in the current financial year with an estimated growth of 14-18 per cent year-on-year, according to an ICRA report released on Tuesday.  This follows the sharp growth of 18 per cent in 2023-24, which was primarily driven by realisations even as volume growth was subdued. A sharp 900 basis points (bps) cut in import duty in the Union Budget in July 2024 and consequent correction in gold pri...
India`s gold jewellery purchase poised to surge 18 per cent in 2024-25: ICRA
India`s gold jewellery purchase poised to surge 18 per cent in 2024-25: ICRA
Source: IANS
2024-12-17 02:03:34 pm
Gold prices steady ahead of Fed policy meeting Spot gold steadied on Tuesday ahead of the Federal Reserve's policy meeting as the market keenly awaited the U.S. central bank's outlook for cues on the interest rate path in 2025. Spot gold ticked up 0.1% to $2,655.07 per ounce, as of 0335 GMT. U.S. gold futures were flat at $2,672.40. "The market has almost discounted a 25-basis-point cut; however the 2025 outlook, the Fed dot chart and (Fed Chair Jerome) Powell's statements will be key to gauge the Fed's stance f...
Gold prices steady ahead of Fed policy meeting
Gold prices steady ahead of Fed policy meeting
Source: Reuters
2024-12-17 12:16:54 pm
Oil prices in holding pattern ahead of Federal Reserve decision Oil prices were range-bound in early Asian trading on Tuesday as investors worried about Chinese demand and awaited further market direction from a U.S. interest rate decision due on Wednesday. U.S. West Texas Intermediate crude was down 6 cents at $70.65 a barrel at 0112 GMT, while Brent crude futures fell 1 cent to $73.90 a barrel. Prices were "weighed on by profit-taking after last week's 6% rally and a batch of disappointing Chinese economic data yesterday," IG market ...
Oil prices in holding pattern ahead of Federal Reserve decision
Oil prices in holding pattern ahead of Federal Reserve decision
Source: Reuters
2024-12-17 09:01:12 am
Area sown under rabi crops increases to 558.8 lakh hectares  The total area sown during the ongoing rabi crop season so far has touched 558.8 lakh hectares, up from 556.6 lakh hectares in the same period of the previous year, an official statement said on Monday.  The area covered under wheat has increased to 293.11 lakh hectares (ha) compared to 284.17 lakh ha during the corresponding period of last year.  The total area under pulses has been reported at 123.27 lakh ha while 38.75 lakh ha area has been sown under Shri Anna (mille...
Area sown under rabi crops increases to 558.8 lakh hectares
Area sown under rabi crops increases to 558.8 lakh hectares
Source: IANS
2024-12-17 08:55:43 am
Coal PSUs have created 16 eco-parks on 10,942 hectare green cover in 5 years: Government  Coal & Lignite public sector undertakings (PSUs) under the Ministry of Coal have established 16 eco-parks during the last 5 years in and around coal mining areas to promote environmental regeneration as well as tourism and recreational activities, Minister of Coal and Mines G. Kishan Reddy informed the Rajya Sabha on Monday.  To increase green cover in and around coalfields, Coal India Limited (CIL), NLC India Limited (NLCIL) and Singareni Collieries Company Limited (SCCL) h...
Coal PSUs have created 16 eco-parks on 10,942 hectare green cover in 5 years: Government
Coal PSUs have created 16 eco-parks on 10,942 hectare green cover in 5 years: Government
Source: IANS
2024-12-16 05:34:14 pm
Arrival of kharif crops, robust outlook for rabi augur well for food inflation outlook The arrival of kharif crops in the market and the robust outlook for the rabi crop amid healthy sowing trends and elevated reservoir levels augur well for the food inflation outlook, economists said on Monday, as the wholesale price index (WPI) inflation eased to 1.9 per cent in November from 2.4 per cent in October.  The moderation in the WPI inflation last month was primarily on account of a decline in food inflation. "The arrival of fresh harvests has led to a seasonal corr...
Arrival of kharif crops, robust outlook for rabi augur well for food inflation outlook
Arrival of kharif crops, robust outlook for rabi augur well for food inflation outlook
Source: IANS
2024-12-16 03:49:50 pm
Oil eases from highest in weeks, investors eye Fed rate cuts  Oil futures eased from their highest levels in weeks as investors awaited a meeting of the Federal Reserve later this week for indication of further rate cuts. Falls were limited however by concerns of supply disruptions in the event of more U.S. sanctions on major suppliers Russia and Iran. Brent crude futures fell 21 cents, or 0.3%, to $74.28 a barrel by 0110 GMT after settling at their highest level since Nov. 22 on Friday. U.S. West Texas Intermediate crude dropped 30 cents...
Oil eases from highest in weeks, investors eye Fed rate cuts
Oil eases from highest in weeks, investors eye Fed rate cuts
Source: Reuters
2024-12-16 09:18:39 am
Gold edges higher with spotlight on Fed meeting  Gold prices inched higher on Monday as investors anticipated a potential interest rate cut by the Federal Reserve this week, with focus on the central bank's language on rate cuts next year. Spot gold was up 0.1% to $2,652.07 per ounce as of 0155 GMT. Meanwhile, U.S. gold futures slipped 0.2% to $2,670.90. "A 25 basis point rate cut this week has been fully priced by markets, so the focus will be on whether this will be a 'hawkish cut', where U.S. policymakers may...
Gold edges higher with spotlight on Fed meeting
Gold edges higher with spotlight on Fed meeting
Source: Reuters
2024-12-16 09:01:51 am
Per capita availability of fruits, vegetables increases in India  Per capita availability of fruits and vegetables in India increased by 7 kg and 12 kg, respectively, in the last decade, according to SBI Research report.  The main increase in the per capita production of fruits and vegetables has been in Madhya Pradesh, Uttar Pradesh, Punjab and J&K. The report said India produces 227 kg of fruits and vegetables per person per year (the general recommendation for its intake is at least 146 kg per person annually). However, due to...
Per capita availability of fruits, vegetables increases in India
Per capita availability of fruits, vegetables increases in India
Source: IANS
2024-12-14 03:22:49 pm
Rajasthan leading in mineral blocks auction, claims official Rajasthan has emerged as the top state in India in the auction of major mineral blocks, with 87 blocks successfully auctioned so far, including 33 in the current financial year, said Principal Secretary for Mines and Petroleum T. Ravikant on Friday. He further instructed officials to gear up for the e-auction of over 100 major mineral blocks in the upcoming financial year. While addressing a meeting with senior officials from the Mineral Department in Udaipur, he emphasised Chief Minist...
Rajasthan leading in mineral blocks auction, claims official
Rajasthan leading in mineral blocks auction, claims official
Source: IANS
2024-12-14 09:57:24 am
Gold set for weekly gain with focus on Fed`s policy decision Gold prices edged higher on Friday and were set for a weekly gain, driven by reports of top consumer China resuming gold purchases, and heightened expectations of an interest rate reduction by the Federal Reserve at its Dec. 17-18 meeting. Spot gold was up 0.3% at $2,688.29 per ounce, as of 0320 GMT. Bullion is headed for a weekly gain and has added more than 2% so far this week. U.S. gold futures were steady at $2,711.30. Traders' attention is now on the Fed's decision on in...
Gold set for weekly gain with focus on Fed`s policy decision
Gold set for weekly gain with focus on Fed`s policy decision
Source: Reuters
2024-12-13 10:25:43 am
Oil edges lower on 2025 supply surplus forecast, but set to notch weekly gain Oil prices inched lower on Friday as investors focused on a forecast of ample supply and shrugged off expectations of higher demand next year from Chinese stimulus measures, while eyeing another Federal Reserve interest rate cut next week. Brent crude futures edged down 8 cents to $73.33 a barrel by 0125 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, down 7 cents. The International Energy Agency expects non-OPEC+ nations to boost supply by about 1.5 million barrels...
Oil edges lower on 2025 supply surplus forecast, but set to notch weekly gain
Oil edges lower on 2025 supply surplus forecast, but set to notch weekly gain
Source: Reuters
2024-12-13 09:03:03 am
Centre sold 12.41 lakh tonne of Bharat dals at subsidised prices to ease inflation burden The Centre has sold 12.41 lakh tonne of 'Bharat' dals at subsidised prices to consumers to ease the burden of inflation on households, the government told the Parliament on Wednesday.   Minister of State for Consumer Affairs, Food and Public Distribution, B.L. Verma said in the Lok Sabha that 12.35 lakh tonnes of Bharat chana dal, 5,663.07 tonnes of Bharat moong dal, and 118 tonnes of Bharat masur dal have been sold at subsidised prices till now. The government introduced ...
Centre sold 12.41 lakh tonne of Bharat dals at subsidised prices to ease inflation burden
Centre sold 12.41 lakh tonne of Bharat dals at subsidised prices to ease inflation burden
Source: IANS
2024-12-12 11:25:41 am
Gold eases on profit taking after scaling more than one-month peak Gold slipped on Thursday as investors booked profits after prices hit more than one-month high earlier in the day on increased expectations of an interest rate cut by the Federal Reserve next week. Spot gold shed 0.5% to $2,704.41 per ounce, as of 0257 GMT. It hit the highest since Nov. 6 earlier in the session. U.S. gold futures fell 0.5% to $2,744.60. "It's just profit booking because we've seen a good rally in gold due to various factors this week, including geopoliti...
Gold eases on profit taking after scaling more than one-month peak
Gold eases on profit taking after scaling more than one-month peak
Source: Reuters
2024-12-12 09:50:23 am
Oil little changed as demand weakness offsets sanctions-driven supply risks Oil prices were little changed in early Asian trade on Thursday as forecasts of weak demand and a higher-than-expected rise in U.S. gasoline and distillate inventories stemmed gains from an additional round of European Union sanctions that threatened Russian oil flows. Brent crude futures were down 5 cents at $73.47 a barrel at 0141 GMT. U.S. West Texas Intermediate crude futures fell 11 cents to $70.18. Both benchmarks rose over $1 each on Wednesday. OPEC cut its demand growth forecast...
Oil little changed as demand weakness offsets sanctions-driven supply risks
Oil little changed as demand weakness offsets sanctions-driven supply risks
Source: Reuters
2024-12-12 08:57:34 am
Centre cuts wheat stock limit for traders in move to ease prices As part of its continuous efforts to moderate prices of wheat, the Central government has decided to reduce the Wheat Stock limit for wholesale and retail traders, which will be applicable until March 31, 2025. The limit for wheat stocks has been reduced from 2,000 metric tonnes to 1,000 metric tonnes for wholesale traders, while it has been slashed to 50 metric tonnes from 100 metric tonnes for retail traders, according to a statement issued by the Ministry of Consumer Affairs, Food and P...
Centre cuts wheat stock limit for traders in move to ease prices
Centre cuts wheat stock limit for traders in move to ease prices
Source: IANS
2024-12-11 05:32:56 pm
Perspective on `Gold prices trade near 1-month high` by Mr. Colin Shah, MD, Kama Jewelry Below the Perspective on `Gold prices trade near 1-month high` by Mr. Colin Shah, MD, Kama Jewelry   The yellow metal prices have rallied in the international and domestic markets. Prices have climbed to over $2730, over Rs 78,900 in the local market. The rally in gold prices is due to a combination of factors, including rising geopolitical tensions, central bank buying - especially the Chinese central bank - expectations of an ease in inflation, and a subsequent interest rate cut ...
Perspective on `Gold prices trade near 1-month high` by Mr. Colin Shah, MD, Kama Jewelry
Perspective on `Gold prices trade near 1-month high` by Mr. Colin Shah, MD, Kama Jewelry
Source: PR Agency
2024-12-11 04:39:55 pm
Gold touches two-week peak; US inflation data in focus Gold prices scaled a two-week peak on Wednesday, supported by escalating geopolitical tensions and expectations of another rate cut by the U.S. Federal Reserve next week, and ahead of the closely watched U.S. inflation report later in the day. Spot gold was up 0.2% at $2,698.47 per ounce, as of 0253 GMT, and hit its highest since Nov. 25. U.S. gold futures rose 0.6% to $2,734.70. Investors' focus is on the U.S. Consumer Price Index (CPI), which is expected to have risen by 0.3% i...
Gold touches two-week peak; US inflation data in focus
Gold touches two-week peak; US inflation data in focus
Source: Reuters
2024-12-11 10:25:13 am
Oil prices edge up on demand hopes from China`s `looser` monetary policy Oil prices rose slightly early on Wednesday, with market participants expecting to see demand rising in China next year after Beijing announced a looser monetary policy to stimulate economic growth. Brent crude futures gained 10 cents, or 0.14%, to $72.29 a barrel by 0131 GMT, while U.S. West Texas Intermediate crude futures rose 9 cents, or 0.13%, to $68.68. China said on Monday it would adopt "appropriately loose" monetary policy in 2025 as Beijing tries to spur its economy ...
Oil prices edge up on demand hopes from China`s `looser` monetary policy
Oil prices edge up on demand hopes from China`s `looser` monetary policy
Source: Reuters
2024-12-11 09:04:54 am
India to be key market for global oil & gas as China slows: HSBC  India is expected to be the key destination for global oil and gas products as the country adds refinery, petrochem, LNG regasification and pipeline capacity while the Chinese economy slows, according to an HSBC report released on Tuesday.   The report states that global oil prices are likely to remain weak. This would benefit India as the country imports over 80 per cent of its crude oil requirement and any decline in global oil prices leads to a huge saving in the import bill....
India to be key market for global oil & gas as China slows: HSBC
India to be key market for global oil & gas as China slows: HSBC
Source: IANS
2024-12-10 03:06:37 pm
India`s copper demand surges as infra projects expand at rapid pace India's demand for copper recorded a double-digit increase of 13 per cent year-on-year to touch 1,700 kilotonnes in 2023-24 on the back of robust growth in the infrastructure and construction sectors, according to figures compiled by the International Copper Association India.  Building construction and infrastructure account for 43 per cent of copper demand while contributing 11 per cent to GDP, International Copper Association India (ICAI) said in a statement. This surge is a...
India`s copper demand surges as infra projects expand at rapid pace
India`s copper demand surges as infra projects expand at rapid pace
Source: IANS
2024-12-10 11:26:11 am
Gold extends gain on China`s vow for policy stimulus Gold prices extended gains on Tuesday, buoyed by top consumer China's pledge to ramp up policy stimulus to help spur economic growth, with investors awaiting U.S. inflation data for further insights into the Federal Reserve's interest rate outlook. Spot gold had gained 0.4% to $2,669.84 per ounce, as of 0248 GMT. U.S. gold futures rose 0.3% at $2,692.50. Gold hit a two-week high on Monday, supported by China's central bank resuming purchases after a six-month hiatus. The ...
Gold extends gain on China`s vow for policy stimulus
Gold extends gain on China`s vow for policy stimulus
Source: Reuters
2024-12-10 09:08:50 am
Oil prices ease, but geopolitical risk and China policy stance check losses Oil prices eased only slightly on Tuesday, holding on to most of their gains from the prior session as mounting geopolitical risk after the fall of Syrian President Bashar al-Assad and China's vow to ramp up policy stimulus kept a floor under prices. Brent crude futures were down 13 cents, or about 0.2%, at $72.01 per barrel. U.S. West Texas Intermediate crude futures were down 14 cents, also 0.2% lower, at $68.23 at 0151 GMT. Both climbed more than 1% on Monday. "Rising geopol...
Oil prices ease, but geopolitical risk and China policy stance check losses
Oil prices ease, but geopolitical risk and China policy stance check losses
Source: Reuters
2024-12-10 09:06:38 am
Total area sown under Rabi crops surges past 493.6 lakh hectares The total area sown during the ongoing Rabi crop season so far has surpassed 493.6 lakh hectares, up from 486.3 hectares in the same period last year raising hopes of higher agricultural production that would help to bring down food prices.  The area covered under wheat has increased to 239.49 lakh hectares compared to 234.15 lakh hectares in the corresponding period of the previous year. Similarly, the area sown under pulses has shot up to 120.65 lakh hectares in the current Rabi ...
Total area sown under Rabi crops surges past 493.6 lakh hectares
Total area sown under Rabi crops surges past 493.6 lakh hectares
Source: IANS
2024-12-10 09:05:51 am
Gold firms as investors await US inflation data for Fed clues Gold prices gained on Monday as investors awaited U.S. inflation data due this week for clues on the Federal Reserve’s next monetary policy moves. Spot gold was up 0.5% at $2,644.91 per ounce, as of 0238 GMT. Bullion fell nearly 1% last week. U.S. gold futures added 0.3% to $2,666.80. Gold is supported by headlines that China’s central bank is back to purchasing gold in November which could be "good news for gold bulls" in knowing that they have the People's...
Gold firms as investors await US inflation data for Fed clues
Gold firms as investors await US inflation data for Fed clues
Source: Reuters
2024-12-09 09:09:15 am
Oil edges up as rising Mideast tensions offset demand fears Oil prices nudged higher on Monday as heightened tensions in the Middle East following the overthrow of Syrian President Bashar al-Assad by rebels offset concerns over weak Chinese demand that was highlighted by Saudi Aramco's price cuts to Asian buyers. Brent crude futures rose 22 cents, or 0.3%, to $71.34 per barrel by 0140 GMT. U.S. West Texas Intermediate crude futures gained 22 cents, or 0.3%, to $67.42 per barrel. Brent lost more than 2.5% last week and WTI fell 1.2% as analys...
Oil edges up as rising Mideast tensions offset demand fears
Oil edges up as rising Mideast tensions offset demand fears
Source: Reuters
2024-12-09 09:04:05 am
RBI`s gold purchases up 5-fold at 77 tonnes in January-October  The Reserve Bank of India (RBI) bought 27 tonnes of gold during October taking its total purchases of the precious metal to 77 tonnes from January to October, according to a WGC report based on data compiled by the International Monetary Fund (IMF).  The RBI’s gold purchases in the first 10 months of 2024 represent a five-fold increase over the quantity of the precious metal bought in the same period of 2023, WGC said. According to the data, the RBI’s total gold r...
RBI`s gold purchases up 5-fold at 77 tonnes in January-October
RBI`s gold purchases up 5-fold at 77 tonnes in January-October
Source: IANS
2024-12-07 08:59:08 am
Indian dealers offer discounts; China sees seasonally soft demand Physical gold was sold at a discount in India for the first time in six weeks, as a weaker rupee drove up prices and in turn moderated demand, while top consumer China saw seasonally slow demand. Domestic prices in India rose to 76,800 rupees per 10 grams on Friday after falling to 74,852 rupees earlier last week. Jewellers were not making purchases as the rupee fell to a record low, making imports even more expensive, said a Mumbai-based dealer with a private bullion importing bank. ...
Indian dealers offer discounts; China sees seasonally soft demand
Indian dealers offer discounts; China sees seasonally soft demand
Source: Reuters
2024-12-06 02:02:04 pm
Gold heads for second weekly fall; focus on US payrolls data Gold prices edged higher on Friday but headed for a second straight week of decline, while market participants braced for the U.S. payrolls data that is expected to provide cues on the interest rate cut trajectory. Spot gold rose 0.3% to $2,638.66 per ounce by 0346 GMT after hitting its lowest since Nov. 26 earlier in the session. Prices are down about 0.4% so far this week. U.S. gold futures rose 0.5% to $2,661.00. "For December, support is around $2,550 and resistance at $2,70...
Gold heads for second weekly fall; focus on US payrolls data
Gold heads for second weekly fall; focus on US payrolls data
Source: Reuters
2024-12-06 10:53:41 am
India`s rising coal production to keep global price in check India’s rising domestic production of thermal coal and the slowdown in the Chinese economy are expected to exert downward pressure on the price of fossil fuel in Asian markets during 2025, according to an S&P Global report released on Thursday.   India’s rising domestic supply and the government’s emphasis on reducing import dependency are likely to keep industrial purchases limited to the domestic market, the report states.   Vignesh Sundaram, a principa...
India`s rising coal production to keep global price in check
India`s rising coal production to keep global price in check
Source: IANS
2024-12-06 09:48:02 am
Oil set for weekly loss on surplus fears despite OPEC+ cut extensions Oil prices fell on Friday as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone planned supply increases and extend deep output cuts to the end of 2026. Brent crude futures were down 66 cents, or 0.9%, to $71.43 per barrel at 1128 GMT. U.S. West Texas Intermediate crude futures were down 65 cents, or 1%, to $67.65 per barrel. For the week, Brent was on track to fall 2%, while WTI was on course for a 0.5% drop. The Organization of the Petrol...
Oil set for weekly loss on surplus fears despite OPEC+ cut extensions
Oil set for weekly loss on surplus fears despite OPEC+ cut extensions
Source: Reuters
2024-12-06 08:59:33 am
CMFRI achieves breakthrough in captive breeding of marine ornamental fishes In a significant boost to India's aquarium business, the ICAR-Central Marine Fisheries Research Institute (CMFRI) has made a breakthrough achievement in captive breeding of two high-value marine ornamental fishes, Azure damsel and Ornate goby.  Scientists of Vizhinjam Regional Centre of the institute successfully developed and standardised seed production technologies for these highly sought-after marine ornamental fish species, opening up a bright prospect for marine ornamental f...
CMFRI achieves breakthrough in captive breeding of marine ornamental fishes
CMFRI achieves breakthrough in captive breeding of marine ornamental fishes
Source: IANS
2024-12-05 04:17:20 pm
Gold flat as investors await US payrolls data  Gold prices were little changed on Thursday as investors awaited U.S. payrolls data that is expected to provide more insights into the Federal Reserve's monetary policy path. Spot gold was nearly unchanged at $2,647.17 per ounce, as of 0326 GMT. U.S. gold futures eased 0.2% to $2,671.10. "Gold prices probably will stay around these levels with a downward bias at least until (the end of) December," said Brian Lan, managing director at Singapore-based dealer GoldSilver...
Gold flat as investors await US payrolls data
Gold flat as investors await US payrolls data
Source: Reuters
2024-12-05 11:22:15 am