Commodity market: Industrial metals, including aluminium, copper, and zinc prices, increased on the Multi-Commodity Exchange. While gold futures for October touched a record high, silver prices also rose. However, crude oil contracts fell on Thursday.
Here is how different commodity futures were trading on August 7.
Gold futures
During Thursday’s session, the gold prices reached a record high of ₹1,02,155 per 10 gram in futures trade on the Multi-Commodity Exchange (MCX), driven by the US tariff tension and market volatility.
At the time of writing, gold contracts for October delivery were trading higher by ₹799 or 0.79% at ₹1,02,061 per 10 grams in a business turnover of 15,746 lots.
Globally, Comex gold futures for December delivery rose 0.49% to $3,385.98 per ounce in New York.
Silver futures
Silver prices increased by ₹968 to ₹1,14,623 per kilogram in futures trade as participants increased their bets.
On the MCX, silver contracts for September delivery appreciated ₹968 or 0.85% to ₹1,14,623 per kg in a business turnover of 16,647 lots.
Fresh positions built up by participants led to a rise in silver prices, analysts said.
However, silver was trading 0.85% higher at $38.15 per ounce in New York.
Aluminium futures
Aluminium prices surged 90 paise to ₹256.85 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market.
On the MCX, aluminium for delivery in September increased 90 paise or 0.35% to ₹256.85 per kg in 425 lots.
Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
Copper futures
Copper futures rose 0.31% to ₹890.70 per kilogram due to higher spot demand.
On the MCX, copper contracts for September delivery grew ₹2.75 or 0.31% to ₹890.70 per kg, in a business turnover of 1,425 lots.
Analysts attributed the rise in copper prices to higher bets by participants.
Zinc futures
Zinc prices soared ₹1.65 to ₹270.75 per kilogram in futures trade amid a pick-up in spot demand.
On the MCX, zinc contracts for September delivery traded higher by ₹1.65 or 0.61% at ₹270.75 per kg with a business turnover of 349 lots.
Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries, kept zinc prices higher in the futures trade.
Crude oil futures
Crude oil futures fell ₹7 to ₹5,635 per barrel as participants trimmed their positions, tracking weak demand in the spot market.
On the MCX, crude oil contracts for September delivery declined ₹7 or 0.12% to ₹5,635 per barrel in 2,708 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.70% higher at $64.80 per barrel, while Brent Crude rose 0.64% to $67.32 per barrel in New York.
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