Commodity Trend in Crude Oil
Reduction in the growth rate of China is a sharp decline in crude oil. Projected to decrease demand on NYMEX crude fell 1.5 per cent. Brent crude on the ICE doing business with the sharp decline. Indeed, China is the second largest country in the world in crude oil consumption. Declining rate of growth in the demand for crude oil could drop.
Commodity Trend For Bullions
Decline in gold and silver. But the weakness of rupee against the dollar has been growing stronger as gold. With a gain of 0.3 per cent, MCX gold is trading at Rs 31270. However, silver is still in a drop of 0.5 per cent, trading around Rs 61400. Commodity Trend For bullion has a mixed sentiments, where Gold is looking strong but the silver movement indicating a down trend in MCX Silver. Commodity Trend for Base Metals are also looking in a downtrend. Base metals are down by 0.2 to 0.7 per cent in the MCX.
Commodity Trend For Agri Products
Even today there is a sharp decline in potato. MCX potato futures trading initially took only 4 per cent lower circuit. Potatoes in the last 1 month futures have dropped 80 per cent. While still in the spot market price of potatoes is up to Rs 1,000. The futures and spot the difference in price is Rs 300. In some areas of the country has also made new crop arrivals. NCDEX wheat boom with 3 per cent is trading at Rs 1,540. 2 per cent of the soybean is trading at Rs 3,090 with osteoporosis. Red chilli declined by 1.5 per cent and the price is Rs 5,175.
