Latest news with #Commodities
The Print
2 days ago
- Business
- The Print
Silver rallies to hit fresh peak, gold gains Rs 540 as Israel-Iran conflict intensifies
On Friday, silver had revisited its previous all-time high of Rs 1,08,100 per kg. According to the All India Sarafa Association, the white metal had closed at Rs 1,07,200 per kg in the preceding session on Tuesday. New Delhi, Jun 18 (PTI) Silver prices rallied Rs 1,000 to hit a record high of Rs 1,08,200 per kilogram while gold gained Rs 540 to stay above Rs 1 lakh per 10 grams in the national capital on Wednesday as the Israel-Iran conflict intensified on its sixth day, driving investors to safe-haven assets. 'Silver prices extended gains and crossed USD 37 per ounce level in the international markets for the first time since February 2012. Weakness in the rupee is supporting bullion prices in the domestic markets,' Rahul Kalantri, Vice-President – Commodities, Mehta Equities, said. As per the Sarafa Association, the precious metal of 99.9 per cent purity climbed by Rs 540 to Rs 1,00,710 per 10 grams (inclusive of all taxes) on Wednesday. Gold of 99.5 per cent purity appreciated by Rs 500 to Rs 99,950 per 10 grams (inclusive of all taxes). On the Multi Commodity Exchange, the most traded August contract for gold futures was trading at Rs 99,411 per 10 grams, lower by Rs 130 per 10 grams. Additionally, silver futures for July contract jumped by Rs 753 to hit a lifetime high of Rs 1,09,748 per kg. Spot gold fell 0.23 per cent to USD 3,380.97 in the global markets. According to Kotak Securities, gold prices are holding below USD 3,400 per ounce, as dollar strengthened with traders focussing on escalating Middle East tensions. The brokerage firm said US President Donald Trump's call for Iran's unconditional surrender and discussions of potential strikes against Iranian leader Ayatollah Ali Khamenei have 'heightened fears of direct US involvement in the conflict', fuelling safe-haven demand among investors. In the international markets, spot silver rose 0.15 per cent to USD 37.18 per ounce. 'Market participants stay cautiously bullish in near term awaiting more cues from US FOMC (Federal Open Market Committee) meeting with interest rate decision due later tonight,' Maneesh Sharma, AVP – Commodities & Currencies at Anand Rathi Shares and Stock Brokers, said. PTI HG HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
3 days ago
- Business
- Time of India
Silver rallies to hit fresh peak, gold gains Rs 540 as Israel-Iran conflict intensifies
Silver prices rallied Rs 1,000 to hit a record high of Rs 1,08,200 per kilogram while gold gained Rs 540 to stay above Rs 1 lakh per 10 grams in the national capital on Wednesday as the Israel-Iran conflict intensified on its sixth day, driving investors to safe-haven assets. According to the All India Sarafa Association, the white metal had closed at Rs 1,07,200 per kg in the preceding session on Tuesday. On Friday, silver had revisited its previous all-time high of Rs 1,08,100 per kg. "Silver prices extended gains and crossed USD 37 per ounce level in the international markets for the first time since February 2012. Weakness in the rupee is supporting bullion prices in the domestic markets," Rahul Kalantri, Vice-President - Commodities, Mehta Equities, said. As per the Sarafa Association, the precious metal of 99.9 per cent purity climbed by Rs 540 to Rs 1,00,710 per 10 grams (inclusive of all taxes) on Wednesday. Live Events Gold of 99.5 per cent purity appreciated by Rs 500 to Rs 99,950 per 10 grams (inclusive of all taxes). On the Multi Commodity Exchange, the most traded August contract for gold futures was trading at Rs 99,411 per 10 grams, lower by Rs 130 per 10 grams. Additionally, silver futures for July contract jumped by Rs 753 to hit a lifetime high of Rs 1,09,748 per kg. Spot gold fell 0.23 per cent to USD 3,380.97 in the global markets. According to Kotak Securities, gold prices are holding below USD 3,400 per ounce, as dollar strengthened with traders focussing on escalating Middle East tensions. The brokerage firm said US President Donald Trump 's call for Iran's unconditional surrender and discussions of potential strikes against Iranian leader Ayatollah Ali Khamenei have "heightened fears of direct US involvement in the conflict", fuelling safe-haven demand among investors. In the international markets, spot silver rose 0.15 per cent to USD 37.18 per ounce. "Market participants stay cautiously bullish in near term awaiting more cues from US FOMC (Federal Open Market Committee) meeting with interest rate decision due later tonight," Maneesh Sharma, AVP - Commodities & Currencies at Anand Rathi Shares and Stock Brokers, said.
Barnama
25-05-2025
- Business
- Barnama
Fadillah:: Intra-ASEAN Trade Key To Boosting Palm Oil Demand Amid Global Challenges
From Harizah Hanim Mohamed & Aisha Hani Nor Azmir KUALA LUMPUR, May 25 (Bernama) — Robust intra-ASEAN economic activity vital to stimulate demand for palm oil products amid stricter private regulations, tariff uncertainties and other global economic challenges, said Deputy Prime Minister and Minister of Plantation and Commodities Datuk Seri Fadillah Yusof. He said that by focusing on intra-ASEAN cooperation and trade, more economic activities across member states both downstream and upstream sector can be stimulated, particularly in ensuring a resilient and self-sustaining growth engine. 'Malaysia and Indonesia are the biggest states in the palm oil production… with all the restrictions from the world, including introduction of the European Union Deforestation Regulation (EUDR), there is a restriction for us to export our products to the overseas markets. 'If we can focus on ASEAN, then we create more activities between the ASEAN member states, so that it will be enough to sustain our economic activities and benefit entire ASEAN population,' he said at the Luncheon Power Talk Shared Prosperity: The New Imperative for ASEAN's Economic Growth at the ASEAN Women Economic Summit 2025 (AWES 2025) held at a hotel (Shangri-La) here today. Fadillah also called for a more harmonising standards among ASEAN member countries through minimising the non-tariff barriers, strengthen the supply chains and open up to all the member states the benefit of the quality growth. 'Strengthening ASEAN is not just strategic, it is necessary to safeguard our shared prosperity and deliver tangible benefits to the entire ASEAN population,' he said, adding that regional trade, investment, and connectivity must be enhanced to build a more resilient and competitive single market. Citing an example of active cross-border trade, Fadillah said active cross-trade activities can be seen among Thailand, Malaysia, and Indonesia. 'Such efforts should be facilitated to ensure greater cross-border trade is created for the benefit of ASEAN citizens,' he added.
Yahoo
22-05-2025
- Business
- Yahoo
Closing Bell Movers: Snowflake jumps 7% on earnings
In the opening hour of the evening session, U.S. equity futures are down modestly, extending Wednesday's broader declines. S&P 500 is down 0.1% at 5,855, Nasdaq 100 is off by 0.1% at 21,139, and Dow Industrials are slipping 0.2% below 41,900 level. In commodities, WTI Crude Oil is down 0.4% at $61.31 as rumors of escalation in the Middle East are replaced by worries over global growth, while Gold is up another 0.2% at $3,321 per ounce. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Fiscal debt and deficit worries amid Congressional budget deliberations took center stage in U.S. hours today, punctuated by weak demand in the 20-year U.S. Treasury auction mid-day. The yield on the 10-year rose to three-month highs of 4.6% and that of the 30-year eclipsed the 5% threshold. Stocks were likewise spooked by the Treasury selloff as higher rates contributed to Real Estate being the worst performing sector on the S&P 500, followed by Health Care and Financials. Communication Services sector outperformed however thanks to strength in shares of Alphabet. Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGS – Urban Outfitters (URBN) up 14.3% LiveRamp Holdings (RAMP) up 7.3% Snowflake (SNOW) up 6.9% American Superconductor (AMSC) up 4.2% Domo (DOMO) up 3.5% Zoom Communications (ZM) up 0.3% ALSO HIGHER – Lumen Technologies (LUMN) up 11.0% after selling its Mass Markets fiber business to AT&T for $5.75B Pitney Bowes (PBI) up 9.9% after naming new CEO, announcing strategic actions DOWN AFTER EARNINGS – EnerSys (ENS) down 2.9% ALSO LOWER – Eastman Kodak (KODK) down 4.1% after equity offering Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on URBN: Disclaimer & DisclosureReport an Issue Urban Outfitters reports Q1 EPS $1.16, consensus 83c Urban Outfitters options imply 8.6% move in share price post-earnings Gap price target raised to $29 from $26 at Jefferies Urban Outfitters price target raised to $46 from $42 at Jefferies Urban Outfitters price target raised to $73 from $59 at Barclays
Zawya
16-05-2025
- Business
- Zawya
Global oil demand cut down amid US tariff uncertainties: Report
Global oil demand growth has been revised downwards for 2025 due to the uncertainty surrounding the US trade policy and supply surplus, according to an analysis by S&P Global Commodities. Oil demand is expected to average 750,000 barrels per day (bpd) this year, down 500,000 bpd from its previous forecast, the analysis found. The average price forecast for Brent is mid-to-low $60 per barrel and low $60 for West Texas Intermediate (WTI), S&P Global Commodities. According to the analysis, any increase in output by OPEC+ will be an additional downside risk.
