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Commodities - Angel One

Revision in MCX – Commodity exchange trading hours

11 March 2024

In accordance with the Rules, Bye-Laws, and Business Rules of the Exchange, as well as the SEBI Circular regarding trading hours for the commodities derivatives segment, the Exchange has issued a directive notifying the market of revised trading hours. The trading hours will be adjusted starting on March 11, 2024, and concluding on November 01, …

Gold surges to a fresh 52-week high – Set to surpass all-time high levels

5 March 2024

Amid a complex economic landscape and heightened geopolitical tensions, gold, a traditional safe-haven asset, is poised to reach new all-time highs. Currently trading at USD 2,117.86 per ounce, the precious metal is approaching its peak of USD 2,146.79. This surge in gold prices is fuelled by a confluence of economic factors and global uncertainties, making …

MCX Technical Glitch Alters Schedule: Commodity Markets to Open at 10 AM today

13 February 2024

MCX, India’s modern commodity derivatives exchange facilitating online trading of commodity contracts, experienced a technical glitch on Tuesday during the early morning session. The standard trading hours on weekdays, from Monday to Friday, are 9:00 AM to 11:30 PM, as indicated on the website. However, today, there is a discrepancy in the trading timing due …

Gold prices fluctuate as the market anticipates Federal Reserve’s move

5 January 2024

Gold prices experienced a modest rise in Asian trade on Thursday, but concerns over the timing of the Federal Reserve’s interest rate cuts kept the precious metal below key levels. The surge in optimism towards the end of 2023, suggesting an early rate cut by March 2024, faced profit-taking at the onset of the new …

Crude Outlook: Last of 2023

29 December 2023

As we close the chapter on 2023, the last three weeks have revealed a compelling narrative in the U.S. petroleum market, accompanied by notable movements in West Texas Intermediate (WTI) and Brent crude oil prices. Let’s delve into the key highlights and their implications for the energy landscape. U.S. Petroleum Market Overview: Over the three-week …

Going beyond the barrels: A deep dive into the crude outlook for 2024

21 December 2023

The energy landscape is ever-changing, and staying abreast of the latest data is crucial for investors and industry stakeholders. In this comprehensive analysis, we will scrutinize the recent U.S. Energy Information Administration (EIA) data on crude oil, drawing comparisons between the past week and the current week. Additionally, we’ll explore other pertinent updates shaping the …

Sweet dilemma: Balancing sugar and ethanol production amid sugarcane shortages

14 December 2023

On December 7, 2023, the government limited the use of sugarcane juice and sugar syrup for ethanol production in ethanol supply year 2023-24 (November 2023 to October 2024). However, ethanol supply from existing bids received by oil marketing organisations from B heavy molasses, C heavy molasses, and cereals will continue. Background  The sugarcane and sugar …

Weekly Commodity And Currency Technical Report – 20 November 2023

20 November 2023

NSE USD INR (Technical): NSE USDINR Nov, as seen in the weekly chart above, has opened the week at 83.3350 levels. On the same of the week price, made a weekly high of 93.3375 levels. Later on, price corrected and reached a weekly low of 83.0175. At the mid session of week, price could not sustain itself at lower levels and rallied …

Weekly Currencies Fundamental Report – 20 November 2023

20 November 2023

USDINR: In the last week, the Indian Rupee traded in a range bound manner as festive activities kept the trading volumes light. Apart from this, the Fitch Ratings on November 6 revised India’s medium-term growth estimate upward by 70 basis points to 6.2 percent from 5.5 percent. Download Report

Weekly Commodities Fundamental Report – 20 November 2023

20 November 2023

Gold: Gold prices showed resilience and posted a notable upward trend during the week, poised for their first weekly gain in three weeks. The surge was propelled by a combination of factors, including investor confidence in the U.S. Federal Reserve’s decision to halt interest rate hikes, leading to a decline in the dollar and Treasury yields. Download Report

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