Neal Bhai 
Just three weeks ago, copper prices were in the midst of an extended losing streak, spurred on by a jump in global bond yields. With investors shifting asset allocations amidst higher sovereign rates, growth-sensitive assets – base metals, energy, tech stocks – took a back seat.
Gold Price Forecast: Gold witnessed an intraday turnaround from the vicinity of the $1,803 mark and finally settled in the red for the second consecutive session on Friday. Upbeat US economic data was enough to push the US bond yields higher, which turned out to be a key factor that drove flows away from the non-yielding yellow metal.
Premiums on gold over official domestic prices in India dipped this week amid faltering demand. Rising prices and strict restrictions to contain the spread of Covid infections have hurt gold demand. Premiums this week eased to about $2 an ounce over official domestic gold prices as compared to last week’s $4, the report said.
The petroleum ministry has told India’s largest oil and gas producer ONGC to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in KG basin gas fields, monetise existing infrastructure, and hive off drilling and other services into a separate firm to raise production.
Commodity Trading Strategies: Commodity prices traded on a mixed note on Thursday, as bullion prices traded steady on pandemic worries while crude oil prices declined on demand growth worries and inventory build. Base metals complex traded on a weak note as they pared gains from the previous session. Here is a look at how different commodities are behaving in today’s market.