Commodities Market Today 16 April

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Top News and Events

  • Gold prices have edged higher, nearing record highs due to increased safe-haven demand amidst Middle East tensions; prices opened above Rs 72,000 per 10 grams, with a significant rise of Rs 300 to Rs 73,050 per 10 grams recently.

  • Silver prices have hit a lifetime high with the latest opening at Rs 83,273 per kg and a recent increase of Rs 500.

  • Oil prices experienced an increase following an Israeli response to an attack from Iran but later dropped by 1% influenced by strong US retail sales data and interest rate concerns; Brent futures are at $89.54 and U.S. crude at $84.79.

  • Volatility in other metal prices due to new sanctions from the US and UK affecting Russian supplies, shaking the London Metal Exchange (LME) market.

Monetary Actions and Financial Strategies:

  • The Reserve Bank of India has stepped up its gold purchases in response to US dollar volatility.

Prices of Popular Commodities

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

NameLTPChangeChange%
GOLD72,844.00567.000.78
SILVER84,164.00361.000.43
COPPER831.400.100.01
CRUDEOIL7,173.0058.000.82
NATURALGAS141.800.500.35

Note : Stats/Prices updated as on 16th April, 2024 at 09:40 AM

Source: Moneycontrol

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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