Commodities Market Today 09 April

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Overview

Embark with us on a comprehensive exploration of today's commodities market. This guide delves into the fundamentals of commodities trading, including its diverse types and attractive benefits. We'll also provide practical insights on participating in the market, along with essential considerations and risks to be aware of in your trading journey.

Prices of Popular Commodities

The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)

Market Data
MarketNameLTP (₹)Change (₹)Change%
MCXGOLD71,060.00+167.000.24%
MCXSILVER81,880.00+5.000.01%
MCXCOPPER815.80-0.25-0.03%
MCXCRUDEOIL7,207.00+28.000.39%
MCXNATURALGAS154.40+0.300.19%

Note : Stats/Prices updated as on 09th April, 2024 at 09:37 AM Source: Moneycontrol

Top News and Events

Commodity News:

  • Gold Prices: They edged higher as the market awaits the release of the Fed minutes and the U.S. CPI (Consumer Price Index) data on Wednesday.
  • Oil Prices: Prices turned higher as hopes for a Middle East ceasefire waned, affecting the recent trend and leading to the first decline in Brent and WTI prices in several sessions.
  • Silver Prices: Reached a new peak of Rs 82,109/kg, indicating a strong bull market for precious metals, with silver historically outperforming gold in such market conditions.
  • Gold Demand: The price of gold rose to a new high of Rs 71,080, impacting demand especially ahead of Gudi Padwa and Ugadi, significant festivals in India where gold purchasing is customary.

Top News:

  • Gold price surges, hitting a fresh record high of Rs 71,700 per 10 grams, with further gains reported.
  • A sudden surge in gold prices leads the market to search for underlying reasons.
  • Gold prices see a 1% drop as the U.S. dollar strengthens and yields firm up following positive U.S. data.
  • Oil prices experience a nearly 2% drop as Middle East tensions ease, impacting market sentiment.
  • Insights into why gold miners might be more profitable than investors in gold itself.
  • Gold price breaks previous records, aiming for a third consecutive weekly gain due to strong buying momentum.
  • The Supreme Court upholds NAFED's tender for the export of 35,000 tonnes of non-basmati white rice, dismissing an appeal by the Rice Exporters Association of India and affirming the Delhi High Court's decision.

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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Frequently Asked Questions

What exactly are commodities?

Answer Field

Commodities are raw materials or primary agricultural products traded on dedicated exchanges. They can be categorised as hard commodities (e.g., gold, oil) or soft commodities (e.g., coffee, cotton).

How does commodities trading differ from stock trading?

Answer Field

While stock trading involves buying and selling shares of publicly traded companies, commodities trading deals with the exchange of physical goods or raw materials. Additionally, commodities are often subject to supply and demand dynamics rather than company performance.

Can I trade commodities without owning the physical assets?

Answer Field

Yes, through derivatives such as futures contracts and options, traders can speculate on commodity price movements without owning the physical assets, enabling participation in commodities markets with lower capital requirements.

What is leverage in commodities trading, and how does it work?

Answer Field

Leverage allows traders to control a larger position with a smaller amount of capital, amplifying both potential profits and losses. While leverage can magnify returns, it also increases risk, so it's crucial to use it judiciously.

What are some common trading strategies in commodities markets?

Answer Field

Popular strategies include trend following, range trading, spread trading, and fundamental analysis-based approaches. Each strategy has its own set of rules and techniques suited to different market conditions.

How can I manage risk when trading commodities?

Answer Field

Implement risk management techniques such as setting stop-loss orders, diversifying your portfolio, avoiding over-leveraging, and staying informed about market developments and news that may impact commodity prices.

What are the potential risks associated with commodities trading?

Answer Field

Risks include price volatility, leverage risk, liquidity risk, regulatory risk, geopolitical risk, and risks specific to individual commodities such as weather-related risks for agricultural commodities or geopolitical tensions for energy commodities.

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