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Commodity outlook for 8th july


Commodity outlook for 8th july
The prices of gold and silver were on a strong uptrend in June 2019. International gold prices touched a six-year high towards the end of June. After touching a high of $1,443 an ounce, comex gold price has been largely range bound in the past few days. Gold gained 7.8% in June to settle at $1,413.7 an ounce.

While international silver prices, too, remained strong in June 2019, the momentum witnessed in gold price was not as evident in the case of silver. Silver price gained 4.7% in June to settle at $15.25 an ounce.

Crude oil prices rose 0.79 per cent to Rs 3,964 per barrel in futures trade Monday as speculators raised their exposure amid positive trend in global markets. On the Multi Commodity Exchange, crude for delivery in July contracts went up by Rs 31, or 0.79 per cent to, Rs 3,964 per barrel in a business turnover of 19,063 lots.

Analysts said, crude oil prices bounced back in tandem with a firm trend overseas. Meanwhile, West Texas Intermediate crude prices rose 0.28 per cent to USD 57.67, while Brent was up 0.26 per cent to USD 64.40 a barrel in New York.

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