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Welcome to our exploration of the commodities market today. In this section, we embark on a journey to uncover the essence of commodities trading, its various types, the enticing benefits it offers, practical insights into how to engage in it, and crucial factors and risks to consider along the way.
Commodities trading involves the buying and selling of raw materials or primary agricultural products, typically traded on dedicated exchanges. Broadly categorised into two types:
Commodities trading offers a plethora of benefits for investors and traders alike:
Entering the world of commodities trading requires understanding and implementing certain key strategies:
While commodities trading offers lucrative opportunities, it also entails certain risks and considerations:
Navigating the commodities market requires a blend of market knowledge, risk management skills, and strategic decision-making. By understanding the fundamentals, leveraging advanced trading tools, and staying informed, traders can capitalise on opportunities while managing risks effectively.
Gold and silver prices surged to new highs after the speech delivered by Jerome Powell, the Chair of the United States Federal Reserve. Consequently, the US dollar retreated from its four-month peak. The gold rate on the Multi Commodity Exchange (MCX) in India soared to a record high of ₹69,908 per 10 grams within minutes of the commodity market's opening bell..
The price of Mentha Oil witnessed a decline of 0.18% on the trading day. The Mentha oil futures contracts expiring on June 28, 2024, experienced a drop, trading at ₹931.50 per unit. Mentha oil is actively traded on commodity exchanges like the Multi Commodity Exchange (MCX), where traders can engage in buying and selling Mentha oil contracts. India's production of Mentha oil is concentrated in several states, including Uttar Pradesh, Bihar, and Punjab.
Thursday witnessed a marginal decline in gold prices. The rate for 24-carat gold experienced a dip of Rs.141.0, bringing the cost down to Rs.7068.2 per gram. Similarly, the price of 22-carat gold fell by Rs.130.0, trading at Rs.6474.4 per gram.
Note : Stats/Prices updated as on 04 April, 2024 at 11:05 AM
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change | Chg% |
---|---|---|---|
GOLD | 70,130.00 | 352.00 | 0.50 |
SILVER | 79,715.00 | 704.00 | 0.89 |
COPPER | 795.75 | 5.10 | 0.65 |
CRUDEOIL | 7,147.00 | -15.00 | -0.21 |
NATURALGAS | 155.30 | 0.00 | 0.00 |
Note : Stats/Prices updated as on 04 April, 2024 at 11:06 AM
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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