Commodity Market- MCX Gold, Copper futures end higher on Tuesday

MCX gold silver Gold futures ended higher on Tuesday since the US dollar headed lower and investors were keen to look at the Federal Reserve’s recent minutes of meeting due midweek from expecting for clues on plans for interest rates.

Gold futures for December delivery added USD 6.40 or 0.5% to settle at USD 1,281.70 per ounce on the primary market, Comex of the NY Mercantile, while spot gold was up 0.3% at USD 1,280.63 an ounce.

Conversely, Comex copper futures ended higher on Tuesday. Copper futures for December delivery rose 1.2% to settle at USD 3.129 a pound on the Comex metals division of NY Mercantile Exchange.

Meantime, oil extended gains after data showed a considerable draw in inventories. U.S. light crude added 25 cents to USD 57.08 while Brent crude oil was flat at USD 62.57.

Commodity Market: Gold price today,Oil prices fall on worries of oversupply

Forex trading

Oil prices slipped early on Wednesday, pressed between concerns of oversupply, on account of rising Libya output, and worries of reduced future investment in the industry.  Brent crude oil futures, were at USD 51.61 per barrel at down 0.5%, from their previous close. 

Gold: Price of Gold inches on a strong dollar today with investors looking for direction from geopolitical significance and the central banking conference this week in U.S.

The MCX Gold futures closed down 0.62 percent at Rs, 29,100 per 10 grams on Tuesday close after testing a low near Rs 29,000.

Agri-commodity: The Agri-commodity such as Chana, crude palm oil falls on sustaining its spiraling streak for the second day. Chana prices shot up by 1.59 percent to Rs 5,759/ quintal in futures trade Wednesday, since participants engaged in adding their positions, with a strong trend at spot market on rising demand.