According to Geojit, Madhya Pradesh is preparing to spend 11.6 bln rupees under the price support scheme to procure kharif pulses--tur, urad, and moong--harvested in 2020-21 (Jul-Jun), a state government official said.from Moneycontrol Commodity News https://ift.tt/3mcoENi
With hopes of another round of stimulus measures flying out of the window, the US needs more economic activity to get demand flowing.
According to Geojit, Rubber prices rose nearly 10% over the past three-four weeks and hit a record high of 140 rupees a kg due to pent-up demand after easing of the pandemic induced lockdowns amid a supply crunch.
U.S. West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.5%, to $37.85 a barrel at 0056 GMT, after climbing 3.5% on Wednesday.
In its monthly forecast, the agency cut its oil demand growth estimate for 2021 by 490,000 bpd to 6.53 million bpd.
Spot gold was little changed at $1,929.30 per ounce by 0038 GMT, after falling to a near two-week week low of $1,906.24 on Tuesday.
After weeks of consolidation, crude oil has come under pressure amid signs of correction in US equity market and gains in US dollar index.
According to Motilal Oswal, Oil prices hit a rough patch last week, falling back in line with broader financial markets. Prices did try to inch higher, but experienced selling pressure at highs.
According to Motilal Oswal, Gold fell to the lowest level in a month primarily as the dollar rose against its major crosses and better-than-expected economic number from the US.
According to Motilal Oswal, Base metals traded choppy last week, with prices hitting multi month highs at the start of the week and followed by some profit taking on back of volatility in the dollar and mixed data signals from China and US.
Spot gold was down 0.2% at $1,925.68 per ounce by 0048 GMT.
Spot gold was up 0.2% at $1,935.50 per ounce by 0341 GMT, moving further away from a one-week low of $1,916.24 touched on Friday. U.S. markets are shut for the Labor Day holiday on Monday.