Key Commodity Market Highlights
- Precious metals opened sharply higher, with Gold MCX rising 1.82% to ₹1,53,274 per 10 grams, reflecting strong safe-haven demand amid volatility in global financial markets.
- Silver emerged as the top performer, surging 2.5% to ₹2,52,344 per kg, with market reports indicating a rally of nearly ₹6,400 per kg in early trade. The move highlights increasing investor interest in industrial and precious metals.
- Crude Oil MCX witnessed heavy selling pressure, falling 5.43% to ₹7,635 per barrel, tracking the sharp decline in global crude benchmarks amid easing geopolitical concerns and demand-related worries.
- The divergence between precious metals and energy commodities suggests a risk-off sentiment, where investors are reducing exposure to cyclical assets while increasing allocations to defensive havens such as gold and silver.
- Dollar-Rupee traded at 94.74, with the rupee strengthening by 0.37 points against the US dollar. A stronger rupee could provide some relief to India's import bill, particularly for crude oil and other commodity imports.
- Asian markets traded positively during the session, with Hang Seng and KOSPI remaining in the green, supporting broader investor sentiment despite weakness in energy markets.
