Commodity Market Update, June 9: Zinc, aluminium futures fall; silver futures rise; check details

Silver futures

Silver prices on Monday increased by ₹65 to ₹1,05,524 per kilogram in futures trade, as participants increased their bets.

On the Multi Commodity Exchange (MCX), silver contracts for July delivery rose by ₹65 or 0.06% to ₹1,05,524 per kg in a business turnover of 21,115 lots.

Fresh positions built up by participants led to a rise in silver prices, analysts said.

Globally, silver was trading 0.21% higher at $36.05 per ounce in New York.

Crude oil futures

Crude oil futures on Monday marginally slipped to ₹5,469 per barrel as participants trimmed their positions, tracking weak demand in the spot market.

On the MCX, crude oil for July delivery declined ₹1 or 0.02% to ₹5,469 per barrel in 6,210 lots.

Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.

Zinc futures

Zinc prices fell 0.26% to ₹252.55 per kilogram in futures trade as speculators reduced their exposure, tracking negative cues from the spot market.

On the MCX, zinc contracts for July delivery traded lower by 65 paise or 0.26 per cent at Rs 252.55 per kg in 825 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.

Aluminium futures

Aluminium prices on Monday declined by 55 paise to ₹237.25 per kilogram in the futures trade as participants trimmed their positions on a weak trend in the spot market.

On the MCX, aluminium for delivery in July fell 55 paise, or 0.23%, to ₹237.25 per kg in 4,222 lots.

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

Cottonseed oil futures

Cottonseed oil cake prices on Monday fell by ₹32 to ₹3,135 per quintal in futures trade, as participants reduced their bets following weak trends in the spot market.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for July delivery traded lower by ₹32 or 1.02% at ₹3,135 per quintal with an open interest of 48,130 lots.

Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.

Gold futures

Gold prices on Monday declined by ₹521 to ₹96,515 per 10 grams in futures trade amid muted spot demand.

On the MCX, gold contracts for August delivery traded lower by ₹521 or 0.54% at ₹96,515 per 10 grams in a business turnover of 13,204 lots.

In the international markets, gold futures rose 0.03% to $3,311.48 per ounce in New York.

Coriander futures

Coriander prices increased by ₹48 to ₹7,162 per quintal in futures trade on Monday as speculators increased their holdings, tracking a firm trend in the spot market.

Copper futures

Copper futures rose 0.11% to ₹880.45 per kilogram on Monday due to higher spot demand.

On the MCX, copper contracts for July delivery grew by 90 paise, or 0.11%, to ₹880.45 per kg in a business turnover of 988 lots.

Analysts attributed the rise in copper prices to higher bets by participants.