India joins Greece, Italy, Taiwan and Turkey which countries have stopped importing oil from Iran and Iran supplies 10 per cent of oil to India earlier. The sanctions have led to a sharp downturn in Iran’s economy, pushing the value of its currency to record lows, quadrupling its annual inflation rate, driving away foreign investors, and triggering protests. India has stopped importing oil from Iran. American waivers granted to eight buyers expired early this month, New Delhi’s envoy here has said, becoming the latest country to comply with the US sanctions on Tehran over its nuclear program.
This week commodity market Gold, Silver and Crude Oil futures contracts closed with losses as follows:
GOLD 10 g” (99.9 Pure)
- In the commodity market last week Gold June 2019 futures contract closed at ₹31,791 with an aggregate loss of ₹113 only.
- This week Gold April futures contract opens at ₹31,679 on Monday.
- Gold Highest gain ₹245 on Thursday.
- Gold highest loss ₹254 on Monday.
- Week last day i.e. Friday Gold closed at ₹31,530 with the aggregate loss of ₹261 only.
SILVER (1 KG)
- Last week Silver July 2019 futures contract closed at ₹36,577 with an aggregate loss of ₹777 only.
- This week Silver July futures contract opens at ₹ 36,450 on Monday.
- Silver highest gain ₹348 on Thursday.
- Silver highest loss ₹273 on Friday.
- Week last day i.e. Friday Silver closed at ₹ 36,384 with the aggregate loss of ₹193 only.
CRUDE OIL (1 BBL)
In the commodity market last week Crude Oil May 2019 futures contract closed at ₹4,416 with an aggregate gain of ₹90 and the contract also closed on 20th May 2019 at ₹4,388 only. A June contract will be continued from 21st May 2019 on wards.
- This week Crude June futures contract opens at ₹4,470 on Monday.
- Crude Oil highest gain ₹35 on Friday (Tue to Friday (Jun contract)).
- Crude Oil highest loss ₹240 on Thursday. (Tue to Friday (Jun contract)).
- Week last day i.e. Friday Crude Oil closed at ₹4,071 with the aggregate loss of ₹374 (₹4,071-₹4,445 (Jun contract)) only.
