In early trade, the rupee weakened by 21 paise against the dollar to open at 85.68 per dollar against 85.47 per dollar, however, after that the rupee is trading around the level of 85.47 per dollar.
If you look at the dollar index, the dollar index will remain stable between 104-105. The dollar declined by 3.14% in March. Wells Fargo said the dollar decline is temporary. The tariff by Trump will accelerate. An increase of 1.5–11% is possible. The increase in the tariff rate is likely to increase the dollar. Goldman Sachs estimates that the US has a possibility of a slowdown.
Gold recorded pressure from above, although the record level is trading, where prices on comex topped $ 3120, the local market is trading near the 91,000 level. Gold is getting support from weak US consumer survey data.
Prices have fallen from high levels, but are still trading around record levels. The price on COMEX is stable above $ 3100. Weak US consumer survey data is also getting support.
Silver is also rolled from the upper levels, prices in the local market have come down to 1 lakh, but the global market is seeing above $ 33 levels.
In the early trade, there were mixed signs from metals in the domestic market, where there was a slight weakness in the lead, but there was a rapid trend in copper and aluminum. Here too, the market is eyeing Trump’s statement on tariff.
Crude oil was sold from upper level of 5 weeks, although prices remained stable above $ 74 level, crude reserves in the US have affected prices due to rising 6 million BBLs, the market is now eyeing OPEC+ meeting, where there may be emphasis on increasing production, there is less demand for low demand than more production.
If you look at the crude oil trade, the prices have fallen from the highest level of 5 weeks. Prices have fallen from high levels before the announcement of mutual tariffs. The market is eyeing OPEC+ meeting. OPEC+ can decide to increase oil production. American crude oil reserves increased by 6 million barrels.
Russian oil ban
American MPs proposed new sanctions on Russia. 50 Republican and Democratic Senators made this proposal. If the ceasefire does not take place, restrictions will be imposed. Crude oil and uranium purchasing countries from Russia have a 500% tariff. American citizens are banned from purchasing the Russian government bonds. India, China and Europe are the main buyers of Russian oil and gas.
In early trade, natural gas in the domestic market was trading around 338 levels with a selling of more than half a per cent.
Masala packs saw a boom in agricultural commodities, where turmeric rose by about 6 percent today, but there was a selling in guar packs, although castor oil saw more than half a percent of purchases.
The Post Commodity Live: Stable business in crude oil, high levels in gold and silver first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
