On the MCX today, gold prices experienced a modest increase, closing at ₹151,363.00, marking a 0.17% rise from the opening price of ₹149,499.00. Silver, however, witnessed a significant surge, ending the day at ₹247,500.00, a substantial 3.72% increase from its opening mark. The movements in precious metals were partially influenced by fluctuations in the USD index, which can impact investor sentiment and demand.
Precious metals
The precious metals market saw varied activity today. Gold, with an intraday high of ₹152,208.00, dipped to a low of ₹149,069.00 early in the session before settling higher. Silver opened at ₹235,102.00 and demonstrated substantial upward momentum, closing near its session high of ₹247,800.00. The gold mini contract also saw slight gains, ending at ₹148,700.00, a mere 0.01% increase from its opening.
Energy commodities
In the energy sector, crude oil faced downward pressure, closing at ₹9,652.00, down by 0.13% from its opening price of ₹10,300.00. Meanwhile, natural gas prices edged up slightly, finishing at ₹264.10, reflecting a 0.38% increase from the day’s start. These energy movements reflect a mixed sentiment driven by global supply considerations and demand expectations.
Base metals
Base metals presented a mixed scenario on the MCX today. Aluminium notably increased by 0.89%, closing at ₹369.20, reflecting robust demand in the industrial sector. Copper prices remained relatively stable, closing at ₹1,281.90, a slight increase of 0.11% from its open. Zinc saw a marginal decline, settling at ₹343.05, down 0.12% from its opening price.
| Commodity | Open | High | Low | Current | Change % |
|---|---|---|---|---|---|
| Gold | 149,499.00 | 152,208.00 | 149,069.00 | 151,363.00 | 0.17% |
| Silver | 235,102.00 | 247,800.00 | 234,228.00 | 247,500.00 | 3.72% |
| Aluminium | 365.45 | 369.80 | 363.50 | 369.20 | 0.89% |
| Natural Gas | 252.80 | 269.40 | 248.20 | 264.10 | 0.38% |
| Crude Oil | 10,300.00 | 10,571.00 | 9,429.00 | 9,652.00 | -0.13% |
| Zinc | 341.25 | 346.20 | 338.60 | 343.05 | -0.12% |
| Copper | 1,279.50 | 1,287.50 | 1,273.00 | 1,281.90 | 0.11% |
| Gold Mini | 147,850.00 | 149,989.00 | 147,238.00 | 148,700.00 | 0.01% |
Outlook
As market participants continue to digest economic cues and geopolitical developments, the commodity markets are likely to remain volatile. Investors will closely monitor USD fluctuations and potential shifts in global supply chains, which could further influence commodity pricing trends moving forward.