DAILY WRAPUP

DAILY COMMODITY WRAPUP

25-Nov-2020
MCX Metals and Energy Futures
Precious Metals Preview
Commodity LTP % Chg
COMEX Gold remained purely in a bearish territory yesterday as soaring global equities and
GOLD 49,480.0 % (1.8) %
optimism on COVID-19 vaccines pulled the commodity to a four and half month low near
SILVER 60,525.0 % (1.5) % $1800 per ounce. Prices dropped around 2%. Indian retail demand could witness a lull after
CRUDEOIL 3,195.0 % 4.3 % Diwali induced buying though spot prices lingering well below Rs 50000 per 10 grams mark
NATURALGAS 201.1 % 2.1 % can keep the overall undertone supported for the local Gold market. COMEX Gold currently
COPPER 550.5 % 1.2 % trades at $1803 per ounce, down 1.85% on the day. MCX Gold futures closed at Rs 48575 per 10
ALUMINIUM 160.4 % 0.3 % grams, down 1.83% on the day.
ZINC 215.9 % 0.6 %
Base Metals Preview
LEAD 155.9 % (0.1) %
NICKEL 1,193.2 % 1.1 % COMEX Copper extended recent rally in tune with equities. Economic cues also remained
supportive. The US home prices saw a strong spike, jumping 7% annually in September, up
from a 5.8% annual gain in August, according to the S&P CoreLogic Case-Shiller US National
Home Price NSA Index. That is the largest annual gain since September 2014. Prices are now
NCDEX Agri Futures nearly 23% higher than their last peak in 2006. The 10-City Composite was up 6.2% year over
year, up from 4.9% in the previous month. The 20-City Composite posted a 6.6% gain, up from
Commodity LTP % Chg 5.3% in the previous month.
Turmeric 5,708.0 % (2.4) %
Refined Soy Oil 1,074.5 % (2.0) %
German economy rebounded in the third quarter, offsetting a large part of the massive
contraction in the second quarter, revised data from Destatis revealed on Tuesday. Gross
Soyabean 4,455.0 % (2.2) %
domestic product grew 8.5% sequentially in the third quarter, following the 9.8% drop in the
Rape Mustard Seed 6,155.0 % (3.2) %
second quarter. The third quarter GDP rate was also revised up from 8.2% estimated on
Jeera 14,130.0 % (1.0) % October 30. On a yearly basis, calendar-adjusted GDP was 4% lower than in the same period
Guarseed10 3,967.0 % (1.2) % last year after the 11.3% contraction in the second quarter.
Coriander 6,530.0 % (3.0) %
COMEX Copper futures are currently trading at $3.30 per pound, up marginally on the day.
MCX Copper futures ended at Rs 561.80 per kg, up 1% on the day.
Energy Preview
MCX Gold WTI Crude oil futures surged further in the last session as supportive equities boosted the
commodity. WTI Crude oil hit around eight month high near $45 per barrel, spiking more than
4%. US stocks continued to see strong gains with the DOW hitting above the critical 30000
mark as risk appetite stayed firm. MCX Crude oil followed these leads and closed at Rs 3334
per barrel, up 4.35% on the day. The US oil and gas rig count dropped by 2 to 310 in the week
to November 20, according to Friday data from energy services firm Baker Hughes. US oil rigs
fell five to 231 this week, after rising last week to their highest since May. This decline is
keeping oil afloat after breaking above $40 per barrel mark.

Benchmark futures

MCX Copper

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 Benchmark futures

MCX Crude Oil

Benchmark futures
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