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Page 17 - Commodities
MCX Crude Oil can dip to Rs 6,200; Natural Gas futures seen testing Rs 420
On the upside, the MCX Crude Oil futures are likely to face resistance around Rs 7,070 and Rs 7,220. Natural Gas futures face resistance at Rs 485, above which it may pullback towards its 200-DMA.
 "MCX Crude Oil can dip to Rs 6,200; Natural Gas futures seen testing Rs 420")
Oil prices stable as fears of economic slowdown offset supply woes
Oil prices were stable on Tuesday as the market balanced cuts to OPEC+ production quotas against fears of economic slowdown
 "Oil prices stable as fears of economic slowdown offset supply woes")
Oil prices fall more than 3% on US supply fears, lower China demand
Oil prices fell by more than 3% in volatile trade on Tuesday on fears of higher US supply amid an economic slowdown and lower Chinese fuel demand
 "Oil prices fall more than 3% on US supply fears, lower China demand")
Copper prices weaken on worries over China and global slowdown
Copper has given up 30% since touching a record peak in March but has largely held in a range between $7,200 and $8,000 since the end of August
 "Copper prices weaken on worries over China and global slowdown")
India's festival gold sales to shine less brightly this year, says WGC
Demand for gold jewelry, coins and bars typically peaks in the world's second-biggest consumer over October to December, driven by festivals including Diwali
 "India's festival gold sales to shine less brightly this year, says WGC")
Gold prices firm as US dollar slides; rate-hike concerns cap upside
Gold prices rose on Tuesday as a weaker dollar lifted bullion's appeal for overseas buyers, although risks from interest rate hikes by the U.S. Federal Reserve limited further gains
 "Gold prices firm as US dollar slides; rate-hike concerns cap upside")
Gold rises by Rs 10 per 10 gm; silver up by Rs 5,200, trading at Rs 60,500
Gold rates went up slightly in early trade, with 10 gram of the yellow metal (24-carat) trading at Rs 50,680, after an increase of Rs 10
 "Gold rises by Rs 10 per 10 gm; silver up by Rs 5,200, trading at Rs 60,500")
Gold prices jump more than 1% as US dollar, yields pull back
Gold prices on Monday rose more than 1% after declines in the previous two sessions, as the U.S. dollar and Treasury yields faltered
Pivot point at 50,350 for MCX Gold this week; Silver may see volatility
The bears are likely to have the upper hand as long as MCX Gold futures trade below Rs 50,350 this week; Near resistance on the upside is seen at Rs 50,900.
 "Pivot point at 50,350 for MCX Gold this week; Silver may see volatility")
Fuel sales soar 22%-26% in Oct on festive season demand: Industry data
India's fuel sales soared in the first half of October with an across-the-board surge in transportation fuel demand on the back of the economic activity picking up as festival season kicked in
 "Fuel sales soar 22%-26% in Oct on festive season demand: Industry data")
Gold, silver unchanged in early trade; yellow metal trading at Rs 51,000
One kg of silver in Mumbai, Delhi, and Kolkata is trading at Rs 57,300
 "Gold, silver unchanged in early trade; yellow metal trading at Rs 51,000")
Gold heads for weekly decline as fears of hefty US interest rate hikes loom
Growing anticipation of another oversized US Federal Reserve interest rate hike kept the bullion on track for a weekly decline
 "Gold heads for weekly decline as fears of hefty US interest rate hikes loom")
Gold prices rise marginally in early trade, silver falls Rs 1,200
Ten grams of 22-carat gold is trading at Rs 46,750 after a marginal rise of Rs 100
 "Gold prices rise marginally in early trade, silver falls Rs 1,200")
Gold proves its mettle against Sensex, price rises 2.6% in CY22
Gold's outperformance over equity has been even better in the international market, thanks largely to a big sell-off in equities in advanced economies such as the US and Western Europe
Gold, silver rates go down in early trade; yellow metal at Rs 50,890/10 gm
Silver is down by Rs 400 and is trading at Rs 58,500 per kg today
 "Gold, silver rates go down in early trade; yellow metal at Rs 50,890/10 gm")
Steel demand needs 9% CAGR to meet 160 kg/capita consumption target: Icra
The domestic steel demand needs to grow at a compound annual growth rate of 9 per cent over the next decade to meet 160 kg per capita steel consumption target envisaged in the National Steel Policy
 "Steel demand needs 9% CAGR to meet 160 kg/capita consumption target: Icra")
MCX Crude Oil may turn rangebound; Natural Gas tests key support at Rs 520
The MCX Crude Oil futures are likely to trade in a broad range of Rs 6,900 - Rs 7,770 in the near term. Natural Gas futures can pullback to Rs 580, is support at Rs 520 is sustained.
 "MCX Crude Oil may turn rangebound; Natural Gas tests key support at Rs 520")
Gold, silver rates fall in early trade; yellow metal trading at 51,160
Silver prices are down by Rs 600 and is trading at Rs 58,900 per kg
 "Gold, silver rates fall in early trade; yellow metal trading at 51,160")
Gold prices fall by Rs 270; silver down by Rs 1,300, trading at Rs 59,500
In Mumbai and Kolkata, 24-carat gold is selling at Rs 51,930 per 10 gram
Support for Gold moves higher to Rs 50,800; MCX Silver may test Rs 63,900
The MCX Silver futures were seen testing the 200-DMA after a gap of almost six months and could move to Rs 63,900-level in the near term.
 "Support for Gold moves higher to Rs 50,800; MCX Silver may test Rs 63,900")
