Commodity market: Gold and silver dominate weakness today after yesterday’s spurt, in base metals

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After yesterday’s spurt in and silver, weakness is looking to dominate today. While on MCX has slipped closer to 52500, silver is trading at a level of 70 thousand. Light recovery in dollars and good manufacturing data from China are under pressure on prices. However, the trend is still positive due to global liquidity.

The base metals are seeing a good look today. While nickel has grown by about 1.5 per cent, copper is up 0.5 per cent. Metals are getting support from China’s good manufacturing data. Crude oil is also strong, Brent’s price is 45 dollars. Crude is getting support from the decrease in inventory in the US.

The country is expected to produce record kharif crops this year. The increase in good monsoon and MSP has increased the acreage of most of the crops, which is expected to be a strong crop. With us to talk about the outlook for production and prices of kharif crops.

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