Topic
commodity prices
Commodities India's average crude oil basket price plunges to $77.6/bbl in July from $114.5 in April
India's average crude oil basket price declined to $77.6 per barrel in July (up to July 22) from $114.5 per barrel in April 2026, according to the government. The drop, driven by easing geopolitical tensions in West Asia, is expected to support India's external sector and mitigate current account deficit pressures. The RBI has projected GDP growth of 6.6% and CPI inflation of 5.1% for 2026-27.
Commodities Gold Prices Jump Over 1% as Easing Middle East Tensions Drag Oil Lower, Fed Decision in Focus
Gold prices jumped over 1% in early trade as hopes of de-escalation between the US and Iran pushed crude oil prices lower, reducing inflation concerns. Spot gold climbed 1.4% to $4,110.56 an ounce, while silver surged nearly 5%. The Federal Reserve's upcoming monetary policy decision is now the key driver for precious metals.
Commodities Gold Slips as Middle East Tensions Push Crude Higher; Silver Also Declines
International gold prices slipped as rising Middle East tensions pushed Brent crude above $90/barrel, reviving inflation concerns. Spot gold fell 0.4% to $4,000.55/oz, while Comex gold futures for August delivery dropped 0.3% to $4,005.9. Silver also declined sharply. Physical demand weakened in Asia, with Indian discounts widening to near one-month highs.
Business War-Driven Commodity Inflation Will Take Time to Normalise, Says HUL Chairman Nitin Paranjpe
Hindustan Unilever chairman Nitin Paranjpe told shareholders that commodity inflation from the West Asia conflict will persist. HUL has raised prices 2-5% to counter 8-10% cost inflation while leveraging cost efficiency programs. The company is also focusing on quick commerce, AI, and premiumisation under new CEO Priya Nair.
Commodities Gold, Silver Under Pressure as Middle East Tensions and Fed Rate Hike Expectations Weigh
Gold and silver prices traded lower on Monday as renewed US-Iran military strikes raised crude oil prices and reinforced expectations that the US Federal Reserve may continue raising interest rates. MCX gold futures for August delivery fell 0.4% to ₹1,43,545 per 10 grams, while spot gold dropped 0.7% to $4,061.35 per ounce. Analysts at KCM Trade and Motilal Oswal highlight that geopolitical uncertainty and persistent inflation are key drivers.
Commodities Gold Rebounds as US-Iran Peace Talks Progress, Crude Eases; Spot Climbs 1.2%
Gold prices rebounded on Monday, with spot gold rising 1.2% to $4,209.03 per ounce, as Brent crude declined after Iran reported progress in peace negotiations with the United States. Physical demand in India remains subdued despite lower prices, while China gold trades at a discount. Meanwhile, the Federal Reserve is expected to keep rates unchanged through 2026, shifting from prior rate cut expectations.
Commodities Silver futures tumble over 3% to ₹2.42 lakh/kg as Fed signals keep pressure on bullion
Silver futures on the Multi Commodity Exchange plunged ₹8,817 to ₹2,42,990 per kg on Thursday, tracking weak global trends after the US Federal Reserve's hawkish policy signals strengthened the dollar and dampened investor appetite for precious metals. Comex silver for July delivery fell $2.36 (3.34%) to $68.40 per ounce. Analysts attributed the decline to prospects of higher-for-longer interest rates, which tend to weigh on bullion by boosting bond yields and the dollar.
Commodities West Asia Tensions Weigh on Orthodox Tea Prices at Kochi Auctions
Ongoing war-related uncertainty in West Asia has dented export demand for orthodox teas at the Kochi tea auctions, with prices falling ₹6 per kg. Auctioneers report buyer resistance in Sale No. 24 amid renewed US-Iran tensions, while exporters serving Gulf and CIS markets provide only limited support. The orthodox offering of 255,383 kg saw 85% sold at an average of ₹178.60/kg, down from ₹184.78 last week.
Trade Indian Cotton Prices Drop as Import Duty Suspended
India suspends import duty on cotton from June 1 to October 31, easing domestic prices and benefiting the textile industry. The Cotton Corporation of India adjusts prices amid increased import options.