Nickel Copper Tips Today: Nickel MCX yesterday settled up by 2.29% at 1240 as supported after data showed inventories in warehouses monitored by the Shanghai Futures Exchange fell 10.4% from a week earlier, the exchange said.
Copper MCX All Target Hit 732 to 744 Premium Member Mint Money 👍
COPPER PRICES NEARING YEARLY HIGH
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: $1,803 might continue to cap ahead of FOMC on Wednesday
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.
Gold Premiums in India Fall Sharply as Covid Hits Retail Demand
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.
Oil Ministry tells ONGC to sell Oilfields; hive off Drilling, other Services
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.