Select base metals, energy rise on expectations of China stimulus

Prices of select base metals and energy rose on the back of hopes of a demand revival, on Wednesday, following expectations of further economic stimulus from China.

The Chinese government infused $250 billion last week to support the economy, which was hit by the coronavirus outbreak.

While crude oil price in international markets surged 1.5 per cent to trade at $58.20 a barrel, silver and gold prices jumped by 1 per cent (to $1,610 per ounce) and 0.5 per cent (to $18.37 per ounce), respectively, in the benchmark London spot market. At the Zaveri Bazaar here, standard gold in physical markets hit all-time