The commodity market today witnessed a vibrant session as precious metals stole the spotlight, buoyed by strong momentum in international markets.
The overall sentiment remained decidedly bullish, largely driven by a spectacular surge in the silver rate and steady gains across the gold price index.
Investors appeared to pivot toward safe-haven assets amid shifting global cues, providing a solid lift to the broader MCX iCOMDEX Bullion index, which climbed over 2% by the end of the day.
Leading the charge was silver, which delivered a standout performance as the main contract rallied by more than 4%, while the silver mini contract also posted substantial gains as industrial and investment demand converged.
In the energy segment, energy prices saw a divergence in performance; natural gas and natural gas mini managed to edge higher, reflecting a slight tightening in short-term supply.
Meanwhile, base metals showed signs of resilience as the composite index tracked upward.
Zinc led the pack in this category with a healthy gain, followed by modest upticks in aluminium and nickel, as traders weighed a potential recovery in industrial activity against broader economic signals.
On the flip side, crude oil faced some downward pressure, with both the standard and crude oil mini contracts retreating slightly as the market reacted to supply-side developments and a cooling in global demand projections.
The agricultural space also saw some softness, with cotton and cardamom ending the day in the red. Within the metals space, lead was a lone laggard, slipping marginally even as its peers found their footing, likely due to localized inventory builds and profit-taking at higher levels.
With the bullion index currently outperforming the wider market, participants are keeping a close watch on the dollar’s trajectory to see if this rally has enough legs to test new resistance levels in the coming week.
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सभी धर्मों और कर्मों को त्यागकर केवल मेरी शरण में आओ। मैं तुम्हें सभी पापों से मुक्त करूँगा।
Abandon all religious duties and take refuge in Me alone. I will free you from all sinful reactions and protect you always.
