Commodity market: Industrial metals, including aluminium, copper, and zinc, increased on the Multi-Commodity Exchange. Precious metals, silver and gold, futures also surged on Wednesday. However, crude oil contracts eased.
Here is how different commodity futures were trading on August 13.
Gold futures
Gold prices on Wednesday increased by ₹243 to ₹1,00,400 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.
On the Multi-Commodity Exchange (MCX), gold contracts for October delivery traded higher by ₹243 or 0.24% at ₹1,00,400 per 10 grams in a business turnover of 12,790 lots.
Globally, Comex gold futures for December delivery rose 0.24% to $3,356 per ounce in New York.
Silver futures
Silver prices jumped ₹1,162 to ₹1,14,899 per kilogram in futures trade as participants increased their bets.
On the MCX, silver contracts for September delivery increased by ₹1,162 or 1.02% to ₹1,14,899 per kg in a business turnover of 15,570 lots.
Fresh positions built up by participants led to a rise in silver prices, analysts said.
Globally, the silver for the September contract was trading 1.24% higher at $38.38 per ounce in New York.
Aluminium futures
Aluminium prices rose 15 paise to ₹256 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 15 paise or 0.22% to ₹256 per kg in 658 lots.
Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
Copper futures
Copper futures soared 0.24% to ₹899.30 per kilogram on Wednesday due to higher spot demand.
On the MCX, copper contracts for September delivery grew by ₹2.15 or 0.24% to ₹899.30 per kg, in a business turnover of 2,184 lots.
Analysts attributed the rise in copper prices to higher bets by participants.
Zinc futures
Zinc prices surged 5 paise to ₹272.40 per kilogram in futures trade amid a pick-up in spot demand.
On the MCX, zinc contracts for September delivery traded higher by 5 paise or 0.06% at ₹272.40 per kg with a business turnover of 801 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 ₹23 to ₹5,483 per barrel as participants trimmed their positions, tracking weak demand in the spot market.
On the MCX, crude oil for September delivery declined by ₹23 or 0.42% to ₹5,483 per barrel in 7,846 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 0.38% lower at $62.93 per barrel, while Brent Crude fell 0.30% to $65.92 per barrel in New York.
Guar seed futures
Guar seed prices declined by ₹26 to ₹5,265 per quintal in futures trade amid ample…
Read More: Crude oil declines; silver, gold futures rise
