Commodity Derivatives

Silver price: 360 ONE Silver ETF opened for subscription today, March 10, 2025, and will end on March 20, 2025. The scheme will reopen for continuous sale and repurchase from March 28, 2025

The National Stock Exchange (NSE) on Tuesday said it is introducing additional higher bandwidth options, within the co-location facility for commodity derivatives trading, a move that will improve access for market participants. While higher bandwidth options are already available for equity, equity derivatives, and currency derivatives within the co-location facility, these options were not previously available for commodity derivatives due to the lack of co-location in this segment. However, with commodity derivatives now available across more than 25 products in sectors such as energy, bullion, and base metals, there has been an increased demand for higher bandwidth in leased line connectivity. To address this demand, NSE in a statement said it is introducing additional higher bandwidth options for last-mile connectivity through telecom network integrator, SIFY Technologies Ltd. Members can now choose from bandwidth options of 50 Mbps, 100 Mbps, 150 Mbps, 200 Mbps, and 300 Mbps,

Shorter extension tenure kindles hope of early resumption of futures in some commodities

Spot gold at the time of the MCX closing was trading at $2624, up around 0.55 per cent on the day. The MCX December Gold contract at Rs 75,152 (LTP) was up nearly 0.30 per cent.

Spot gold was trading with a loss of around 0.45 per cent at $2,570 at the time of the MCX closing. The MCX October gold contract closed at Rs 73,150 (LTP), down 0.49 per cent.

The geo-political risk and expectation of three rate cuts from US fed has triggered rally in oil prices, says Mohammed Imran.

Oil prices could fall back to early June level of $72.50 as demand side fundamental are looking weak due to abysmal economic performance of China, says technical analyst Mohammed Imran.

Weakness in crude demand in China, the world's second-largest crude consumer, is bearish for oil prices, said analyst at Sharekhan by BNP Paribas.

Recent economic data from across the region like Asia, Eurozone and the US are indicating an economic slow down ahead.

Silver has got a strong support at $29 (Rs 87,800), followed by $28.35 (Rs 86,000), says Praveen Singh, AVP - Fundamental Currencies and Commodities at Sharekhan by BNP Paribas.

Slightly softer than expected inflation data from University of Michigan, which was released Friday, continued to aid in commodities recovery

Silver may trade between $28.80 (Rs 85,000) and $30 (Rs 88,300) in the near-term, says Praveen Singh of Sharekhan by BNP Paribas.

Any significant upside in Crude Oil can only be sustained by strong demand side fundamentals from the US and China, says Mohammed Imran, research analyst at Sharekhan BNP Paribas.

Mohammed Imran, research analyst at Sharekhan BNP Paribas, expects WTI Crude oil prices to broadly trade with upward bias in the range of $77-$80 per barrel.

The MCX Gold futures have scaled new highs in the last 9 trading sessions, and surged 8.5 per cent. Charts suggest some consolidation likely ahead, as technical indicators are in overbought zone.

The MCX Natural Gas futures have declined over 6 per cent so far in March, and tumbled up to 82 per cent from the peak in August 2022.

The MCX Gold futures have gained 4 per cent and Silver 6.5 per cent so far in March on hopes of interest rate cuts in the US. Chart suggests that positive bias shall prevail in the near-term.

MCX had initially intended to introduce the CDP on October 3. However, they have not revealed the new launch date yet

The MCX Gold December futures seem headed towards the 100-WMA (Weekly Moving Average) which stands at Rs 54,150 level; below which the next target shall be the 200-WMA.

The exchange was scheduled to go live with the new tech platform on October 3