The commodity market experienced a session defined by extreme divergence, as precious metals suffered a punishing sell-off, dragging down the broader composite index, even while the energy complex posted robust gains.
The overall MCX iCOMDEX Composite Index closed lower, declining by nearly three per cent.
The day was marked by a dramatic rout in the bullion space. The MCX iCOMDEX Gold Index saw a massive decline, shedding over five-and-a-half per cent (-5.56%) by the close.
Similarly, the MCX iCOMDEX Bullion Index recorded a sharp loss, dropping almost five per cent (-4.88%), with the MCX iCOMDEX Silver Index also falling significantly by nearly three per cent (-2.95%).
Individual gold contracts felt the immense pressure. Key gold future contracts, including GOLDGUINEA, GOLDPETAL, GOLD, GOLDTEN, and GOLDM, dominated the list of market losers. Several of these contracts posted losses exceeding five per cent.
For instance, GOLDGUINEA futures tumbled by more than 5.61 per cent, while GOLD contracts saw their value decline by 5.56 per cent. The weakness extended beyond just gold, as SILVERMIC futures also closed down by 3.30 per cent.
The severe downturn in precious metals was clearly reflected in the MCXBULLDEX, which decreased by almost five per cent.
In stark contrast to the woes of bullion, the Energy sector showed notable strength. The MCX iCOMDEX Energy Index demonstrated resilience, closing higher with a gain of almost two per cent (1.99%).
This positive momentum was reflected in key energy contracts. Both CRUDEOIL and CRUDEOILM futures saw strong buying interest, climbing by over 2.10 per cent during the session. Natural gas also contributed positively, with NATGASMINI futures rising by 1.50 per cent.
Beyond energy, certain industrial metals also posted solid gains. Zinc futures contracts were among the top performers, with ZINC and ZINCMINI futures increasing by 2.20 per cent and 2.16 per cent respectively.
While futures markets saw volatile action, spot prices for several other commodities remained stable. Spot prices for commodities such as ALUMINIUM, COPPER, CARDAMOM, and COTTON were listed as unchanged as of October 22. Crude oil spot prices were also reported as steady.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
इस संसार में आत्मा का ज्ञान सबसे श्रेष्ठ है। यह व्यक्ति को बंधनों से मुक्त करता है।
There is nothing more sublime in this world than the knowledge of the Self. It liberates one from all bonds and brings true wisdom.
