Commodity Exchanges

COMEX silver inventory fell from 299.04 Moz to 298.46 MOz and remains at the highest level since January 2023

Gold and silver prices retreated from record high levels in the national capital on Monday, with the precious metal plunging by Rs 450 per 10 grams, due to weak global trends and easing tensions in West Asia. Gold prices declined by Rs 450 to Rs 73,650 per 10 grams amid weak trends in the overseas markets, according to HDFC Securities. The yellow metal had settled at Rs 74,100 per 10 grams on Friday. Silver prices also tumbled by Rs 1,100 to Rs 85,500 per kg. In the previous close, it had closed at Rs 86,600 per kg. "Spot gold prices (24 carats) in the Delhi markets are trading at Rs 73,650 per 10 grams, down by Rs 450 against the previous close," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. In the international markets, spot gold at Comex was trading at USD 2,365 per ounce, down by USD 26 from the previous close. Gold resumed trading on a weaker note on Monday as demand for the safe haven asset decreased after easing geopolitical tensions in the Middle .

Gold and silver prices rallied for the fourth straight session and hit fresh peaks on Friday, with the yellow metal gaining sharply by Rs 1,050 to breach Rs 73,000 per 10 grams level amid bullish global trend. According to HDFC Securities, gold price surged Rs 1,050 to hit its lifetime high of Rs 73,350 per 10 grams in Delhi. It had closed at Rs 72,300 per 10 grams in the previous session. Similarly, silver prices zoomed Rs 1,400 to hit a new record of Rs 86,300 per kg. "Spot gold (24 carats) prices in the Delhi markets are trading at a record high of Rs 73,350 per 10 grams, up by Rs 1,050, taking positive cues from overseas markets," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. Commodity markets were partially closed on Thursday on account of Eid-Ul-Fitr. In the global markets, spot gold at Comex traded at USD 2,388 per ounce, up USD 48 from the previous closing level. Gold reached a new all-time high in the early hours of the European trading day on Fr

It is not an interest-bearing asset and has precious little industrial use

Indian exchanges like NSE, BSE, MCX, and the bond market will remain shut on the account of Christmas, this is the last market holiday on a trading day in this calendar year

The price of ten grams of 22-carat gold was Rs 54,650, at par with yesterday's price

After a year of limited activity, several economies are expecting a faster-than-usual bounce back to normal. This has led to an increase in commodity prices across the board

Some fund houses are also planning AIFs that can take exposure to commodity derivatives

Experts see the real recovery may prove evasive if virus continues to spread

The regulator, however, has left it to the exchange to accept, modify or reject the recommendations of the committee

The daily trade now commences an hour early at 9 am and goes on till 5 pm. Globally, referential commodities continue to have their trading hours between 9 am and 11:55 pm

Both Multi Commodity Exchange (MCX) and NCDEX, in separate circulars, have announced an increase in trading hours

'The regulator's decision will certainly act as a deterrent towards such malpractices and safeguard the interests of genuine investors'

They will not give financial counter-party guarantees for physical deliveries

Russia's Moscow Exchange has seen an increase in crude oil trading

ICEX getting offers from Indian sight holders of De Beers to buy stake

The issue needs much more deliberation as spot market price discovery is inefficient

Absence of cross hedging from Dubba traders, thin trade in agri mandi, demonetisation creates haul

Detailed guidelines to be issued by the regulator later

With the Securities and Exchange Board of India (Sebi) increasing the limit of a foreign entity in Indian stock exchanges from five per cent to 15 per cent, bankers expect global exchanges to raise their stake or buy stakes in the existing equity and commodity exchanges. Deutsche Börse could raise stake in the BSE to 15 per cent. The CME group has been keen to buy stake in the Multi-Commodity Exchange since many years. Exchanges from countries like Japan would also be interested, said an investment banker. The National Commodity and Derivatives Exchange (NCDEX) and the National Multi Commodity Exchange (NMCE) are other potential exchanges that could attract foreign investments.Rajesh BhayaniFirms rush to file draft prospectus before September 30There is a rush of companies to file draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). Sources said that as many as 15-20 companies might file their DRHP this week. Sebi regulations require that audited