Commodities on the Multi Commodity Exchange (MCX) witnessed sharp divergence on Tuesday, with energy contracts rallying strongly while precious metals and base metals traded lower.
Energy leads the gains
- Crude Oil: Rs 7,010 per barrel, up Rs 513 or 7.90%
- Natural Gas: Rs 287.1 per MMBtu, up Rs 15.4 or 5.67%
Crude oil and natural gas futures continued their upward momentum amid heightened geopolitical tensions and concerns over potential supply disruptions in global energy markets.
Precious metals under pressure
- Silver: Rs 2,64,877 per kg, down Rs 13,604 or 4.89%
- Gold (GOLD1): Rs 1,63,612 per 10 grams, down Rs 2,462 or 1.48%
Silver witnessed sharper selling compared to gold, reflecting its higher volatility. The decline comes amid a stronger US dollar and profit-booking after recent highs.
Base metals mixed
- Copper: Rs 1,199.05, down Rs 15.75 or 1.30%
- Zinc (ZINC1): Rs 325.70, down Rs 1.65 or 0.50%
- Aluminium: Rs 325.20, up Rs 6.10 or 1.91%
Base metals showed mixed movement, with aluminium gaining while copper and zinc traded lower.
Overall, the MCX session reflects a clear rotation toward energy amid geopolitical uncertainty, while metals faced pressure from currency strength and risk repositioning.
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