Commodities News

Gold and Silver prices have seen a fall in MCX and BJAI. The price of gold slid by Rs 339 to reach Rs 50,422 on 7 September. Silver has seen a fall today as the price has come down to Rs 53000.

Govt advised the edible oil manufacturers, packers, and importers to declare net quantity on packages in volume. It is mandatory to declare the net quantity in terms of standard units of weight or measure. Advised to correct their labeling of declaring net quantity in the units of volume within six months.

Markets yesterday took a breather after a six-session dizzying rally, with benchmark indices Sensex and Nifty skidding from their closing peaks after emergence of sell-off in recent high-flying counters.

Currently, commodity derivatives are traded on separate exchanges, which include MCX and NCDEX.

Sebi has been taking several steps to deepen the commodity derivatives market with necessary safeguards ever since it came under its regulatory jurisdiction nearly two years ago and it allowed certain alternative investment funds earlier this year to participate in this segment.

 Oil has been under pressure for the last two weeks since peaking in early November.

As of now, most hedging activity is in base metals though a reasonably wide variety of products are hedged offshore by Indian corporates.

The Indian economy is at the cusp of entering its strongest growth phase and a full blown bull market is yet to play out with the wide-based Nifty expected to touch 11,500 in 2018, says a report.

Leading commodity exchange MCX plans to launch options trading in the next quarter of this fiscal in a few commodities like bullion and crude oil following Sebi's decision to allow such trading on bourses.

The Commerce Ministry was giving "importance" to overall industrial development and was trying to improve exports of all commodities, its Minister Nirmala Sitharaman said Friday.  

Weak global bullion market and tepid domestic demand continued pressure on gold prices. Gold closed at Rs 26,600 per 10 grams at the bullion market on Monday, but silver rallied to Rs 35,760 per kg.

Wall Street finished little changed on Monday as a better-than-expected start to corporate earnings season boosted investor confidence, but gains were curbed by a drop in commodities.

Exporters are facing non-trade barriers and they need to focus on them to enhance their product competitiveness in the global market as well as boost shipments, a senior Commerce Ministry official said on Wednesday.

Capital markets regulator Sebi expects the proposed merger of commodities regulator FMC with it to be completed in 6-12 months.

Much of the fall in turnover was seen in bullion, followed by energy, farm and metals items in the said period, as per commodity markets regulator FMC.

Oil prices jumped on Friday, heading for their first positive week in three, as the dollar fell on interest-rate uncertainty, lifting demand for dollar-denominated commodities from holders of other currencies.

Capital markets regulator Sebi on Friday said the proposed merger of commodities watchdog FMC with it is on track and it is coordinating with Finance Minister Arun Jaitley to ensure a smooth transition.

India's imports during April-February also went up by 0.70 percent to USD 411.80 billion, Sitharaman said.

Mining and commodities giant Glencore on Wednesday announced plans to unload its 23.9 percent stake in South African platinum producer Lonmin and distribute the shares to its own shareholders.

Stocks continued their downtrend for the second straight day, led by key front-line heavyweights, amid gloomy overseas cues as the benchmark Nifty shed 22 points on the National Stock Exchange(NSE).