This week commodity market Gold, Silver and Crude Oil futures contracts closed with gains as follows:
GOLD 10 g” (99.9 Pure)
- In the commodity market last week Gold April 2019 futures contract closed at ₹33,384 with the aggregate gain of ₹142 only.
- Current week Gold April futures contract opens at ₹33,450 on Monday
- Gold highest gain ₹291 on Tuesday
- Gold highest loss ₹421 on Thursday
- Week last day i.e. Friday Gold closed at ₹33,517 with the aggregate gain of ₹133 only.
SILVER (1 KG)
- Last week Silver March 2019 futures contract closed at ₹39,962 with the aggregate loss of ₹143 only
- In current week Silver futures contract opens at ₹ 40,080 on Monday
- Silver highest gain ₹387 on Tuesday
- Silver highest loss ₹727 on Thursday
- Week last day of the trading Silver March futures contract closed at ₹39,962 with the aggregate gain of ₹306 only
CRUDE OIL (1 BBL)
Oil imports rose over 50 percent in the first four months of this fiscal year as against the same period last year. Since India imports more than 80 percent of its crude requirement, it is resulting in huge dollar outflows. Foreign capital inflows help in bridging the gap between imports and exports. Since our imports are more than exports, there is potential for an increase in the trade deficit. Currency weakness is likely to result in inflationary pressure as well. Higher costs of commodities would exert pressure on overall economic activity and may force the central bank to tweak its monetary policy to tackle inflation.
- In the commodity market last week Crude Oil Jan 2019 futures contract closed at ₹3,951 with the aggregate gain of ₹191 only
- Current week Crude Feb futures contract opens at ₹ 3,944 on Monday
- February futures contract closed on 19th Feb 2019 and the March futures contract came up in the commodity index
- In Feb and March futures contracts highest gains ₹60 and 56 on Monday and Wednesday
- Crude Oil highest loss ₹28 on Thursday
- Week last day of the trading Crude Oil March futures contract closed at ₹4,085 with the aggregate gain of ₹52 only