Precious metals ended with profits, while crude oil price climb up

Commodities MCX

This week commodity market Gold, Silver and Crude Oil futures contracts closed with gains and losses as follows:

GOLD 10 g” (99.9 Pure)

  • In the commodity market last week Gold February 2019 futures contract closed at ₹32,091 with the aggregate gain of ₹163 only
  • This week Gold Feb futures contract opens at ₹32,044 on Monday
  • Gold highest gain ₹330 on Friday
  • Gold highest loss ₹127 on Thursday
  • Week last day of the commodity trading Gold closed at ₹32,343 with the aggregate gain of ₹252 only

SILVER (1 KG)

  • Last week Silver March 2019 futures contract closed at ₹39,198 with the aggregate loss of ₹138 only
  • This week Silver futures contract opens at ₹39,155 on Monday
  • Silver highest gain ₹787 on Friday
  • Silver highest loss ₹311 on Monday
  • Week last day of the trading Silver closed at ₹39,670 with the aggregate gain of ₹472 only

CRUDE OIL (1 BBL)

Oil prices move in a volatile manner based on fundamental data and thoughts about what the future supply/demand balance (or often imbalance) will mean for the commodity. Oil prices tanked, but they have since begun to rebound because of their drastic overreaction to the downside. As the new year kicks up, it’s important to take stock of where the oil markets currently stand. With oil having just climbed back above $50 per barrel in the past several days, investors clearly fear that it’s more of a bear market than a bull. While some events have transpired to warrant this (such as Trump’s trade wars and, to a lesser extent, rising interest rates), the data still looks very much in favour of the bulls when you really dig deep down.

  • In the commodity market last week Crude oil Jan 2019 futures contract closed at ₹3,827 with the aggregate gain of ₹195 only
  • This week Crude futures February contract opens at ₹3,875 on Monday
  • Crude Oil highest gain ₹50 on Thursday
  • Crude Oil highest loss ₹127 on Tuesday
  • Week last day of the trading Crude Oil closed at ₹3,812 with the aggregate loss of ₹42 only

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