commodities-see-sharp-selloff-on-tuesday

Most commodities witnessed a sharp sell-off on Tuesday, with trade analysts saying muted demand in the domestic market caused the tumble. 

Copper futures slipped 0.31 per cent to ₹883.85 per kilogram as participants reduced their positions. On the Multi Commodity Exchange, copper contracts for July delivery eased by ₹2.75 or 0.31 per cent to ₹883.85 per kilogram in a business turnover of 1,962 lots.

Analysts attributed the decline in copper prices to lower bets by participants.

Aluminium prices on Tuesday declined by ₹1.25 to ₹239.45 per kilogram in the futures trade as participants trimmed their positions on a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in July fell ₹1.25 or 0.52 per cent to ₹239.45 per kg in 837 lots.

Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Silver prices on Tuesday declined ₹525 to ₹1,06,562 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for July delivery decreased by ₹525 or 0.49 per cent to ₹1,06,562 per kilogram in a business turnover of 21,551 lots. Analysts said a sell-off by participants at existing levels in the market mainly weighed on silver prices.

Globally, silver futures was trading 0.65 per cent lower at USD 36.51 per ounce in New York.

Gold prices, meanwhile, declined ₹595 to ₹96,578 per 10 grams in futures trade amid muted spot demand. Analysts attributed the fall in gold prices to weak global cues.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower by ₹595 or 0.61 per cent at ₹96,578 per 10 grams in a business turnover of 13,120 lots.

In the international markets, gold futures fell 0.27 per cent to USD 3,317.29 per ounce in New York.

Zinc prices fell 0.24 per cent to ₹251.50 per kilogram in futures trade as speculators reduced their exposure, tracking negative cues from the spot market.

On the Multi Commodity Exchange, zinc contracts for July delivery traded lower by 60 paise or 0.24 per cent at ₹251.50 per kg in 999 lots. Analysts said the trimming of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.

Crude oil prices, however, rose on Tuesday by ₹39 to ₹5,604 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for July delivery traded higher Most commodities witnessed a sharp sell-off on Tuesday, with trade analysts saying muted demand in the domestic market caused the tumble. 
Copper futures slipped 0.31 per cent to ₹883.85 per kilogram as participants reduced their positions. On the Multi Commodity Exchange, copper contracts for July delivery eased by ₹2.75 or 0.31 per cent to ₹883.85 per kilogram in a business turnover of 1,962 lots.
Analysts attributed the decline in copper prices to lower bets by participants.
Aluminium prices on Tuesday declined by ₹1.25 to ₹239.45 per kilogram in the futures trade as participants trimmed their positions on a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in July fell ₹1.25 or 0.52 per cent to ₹239.45 per kg in 837 lots.
Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Silver prices on Tuesday declined ₹525 to ₹1,06,562 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange, silver contracts for July delivery decreased by ₹525 or 0.49 per cent to ₹1,06,562 per kilogram in a business turnover of 21,551 lots. Analysts said a sell-off by participants at existing levels in the market mainly weighed on silver prices.
Globally, silver futures was trading 0.65 per cent lower at USD 36.51 per ounce in New York.
Gold prices, meanwhile, declined ₹595 to ₹96,578 per 10 grams in futures trade amid muted spot demand. Analysts attributed the fall in gold prices to weak global cues.
On the Multi Commodity Exchange, gold contracts for August delivery traded lower by ₹595 or 0.61 per cent at ₹96,578 per 10 grams in a business turnover of 13,120 lots.
In the international markets, gold futures fell 0.27 per cent to USD 3,317.29 per ounce in New York.
Zinc prices fell 0.24 per cent to ₹251.50 per kilogram in futures trade as speculators reduced their exposure, tracking negative cues from the spot market.
On the Multi Commodity Exchange, zinc contracts for July delivery traded lower by 60 paise or 0.24 per cent at ₹251.50 per kg in 999 lots. Analysts said the trimming of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.
Crude oil prices, however, rose on Tuesday by ₹39 to ₹5,604 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for July delivery traded higher by ₹39 or 0.7 per cent at ₹5,604 per barrel in 8,735 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.23 per cent higher at USD 65.44 per barrel while Brent crude rose 0.28 per cent to USD 67.23 per barrel in New York.
 or 0.7 per cent at ₹5,604 per barrel in 8,735 lots.

Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.23 per cent higher at USD 65.44 per barrel while Brent crude rose 0.28 per cent to USD 67.23 per barrel in New York.