Commodity Watch
Gold prices predicted to fall up to Rs 93,000/10 gms. Here’s what analysts say
Around 11 am, the metal saw buying interest from lower levels, rising 0.36% to trade at Rs 95,490 per 10 grams, a gain of nearly Rs 350 from Tuesday's closing price.
Oil prices inch up as US bans Chevron from exporting Venezuelan crude
Brent crude futures rose 47 cents, or 0.73%, to $64.56 a barrel by 0028 GMT, while U.S. West Texas Intermediate crude gained 49 cents, or around 0.8%, to $61.38 a barrel.
Gold stages rebound as US dollar, Treasury yields slip
Gold prices increased on Wednesday. The dollar weakened slightly, and U.S. bond yields decreased. Investors are waiting for the U.S. core Personal Consumption Expenditures (PCE) price index report. Donald Trump eased tariff threats on EU imports. U.S. consumer confidence improved in May. Neel Kashkari suggested keeping interest rates steady. Gold imports to Switzerland from the U.S. rose in April.
Commodity Radar: Initiate long position on MCX Zinc futures for this target
Zinc prices slipped amid global metal weakness and weak Chinese demand. Despite China's economic support, sentiment stayed cautious due to US credit downgrade and trade tensions. Prices hovered in a tight range, with technical indicators hinting at a breakout soon.
Top News
Oil edges down as potential higher OPEC+ output eyed Gold edges higher as dollar dips, US fiscal worries mount Commodity Radar: Gold consolidates amid an upward bias. 5 technical insights before making a trade USDINR volatility to impact domestic gold prices amid Trump's EU tariff shifts Gold retreats from two-week high as Trump extends EU tariff deadline Oil climbs after Trump extends EU trade talks deadline to July Oil rises on short-covering, Iran nuclear talks in focus
Why are central banks choosing gold over Bitcoin? Peter Schiff revives debate amid record bullion buying
Economist Peter Schiff reignites the gold vs. Bitcoin debate, questioning why central banks continue to record gold purchases over crypto. With over 1,000 metric tons of gold being bought annually, Schiff argues that gold’s stability and central bank trust underscore its dominance as a reserve asset amid global dollar scepticism, unlike Bitcoin, which remains volatile and unadopted institutionally.
Calendar Spread
(Far - Near month contract)
Premium = Futures Price > Spot Price
Discount = Futures Price < Spot Price