Commodity market: Prices of industrial metals, excluding aluminium, were trading higher on the Multi-Commodity Exchange. While gold futures declined, silver rose. Crude oil contracts also surged on Monday.
Here is how different commodity futures were trading on September 15.
Gold futures
Gold prices fell ₹148 to ₹1,09,222 per 10 grams in the domestic futures market on Monday, September 15, mirroring a weak global trend as market participants stayed cautious ahead of the US Federal Reserve’s policy decision.
On the Multi-Commodity Exchange (MCX), the most-traded October futures fell ₹148 or 0.14% to ₹1,09,222 per 10 grams in a turnover of 15,852 lots. The December contract also moved lower, shedding ₹111 or 0.10% to ₹1,10,323 per 10 grams in 5,656 lots.
In the global markets, Comex gold futures for December delivery dipped by 0.10% to $3,682.72 per ounce.
Silver futures
Silver futures for the December contract rose ₹121 or 0.09% to ₹1,28,959 per kilogram in 18,528 lots, while the March next year delivery edged up ₹41 or 0.03% to ₹1,30,311 per kilogram in 1,072 lots.
Internationally, Silver futures for December delivery depreciated by 0.25% to $42.72 per ounce.
Copper futures
Copper futures surged 0.21% to ₹921.45 per kilogram due to higher spot demand.
On the MCX, copper contracts for October delivery grew ₹1.95 or 0.21% to ₹921.45 per kg in a business turnover of 3,079 lots.
Analysts attributed the rise in copper prices to higher bets by participants.
Aluminium futures
Aluminium prices slipped ₹1.15 to ₹261.65 per kilogram in the futures trade as participants trimmed their positions on a weak trend in the spot market.
On the Multi Commodity Exchange, aluminium for delivery in October fell ₹1.15 or 0.44% to ₹261.65 per kg in 1,033 lots.
Analysts said the cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Zinc futures
Zinc prices rose 40 paise to ₹283.65 per kilogram in futures trade amid a pick-up in spot demand.
On the MCX, zinc contracts for October delivery traded higher by 40 paise or 0.14% to ₹283.65 per kilogram with a business turnover of 1,448 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 prices rose ₹36 to ₹5,562 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the MCX, crude oil for October delivery traded higher by ₹36 or 0.65% at ₹5,562 per barrel in 8,064 lots.
Analysts said participants raising their bets kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.38% higher at $62.93 per barrel, while Brent crude rose 0.36% to $67.23 per barrel in New York.
Guar gum futures
Guar gum prices fell marginally by ₹2 to ₹9,302 per quintal in the futures trade as traders…
Read More: Aluminium, Gold futures fall; Silver, Crude Oil soar
