Commodities

In the international market, spot silver plummeted by $5.49, or 7.32%, to $69.57 per ounce, while gold declined $166.79, or 3.51%, to $4,591.52 per ounce.

On India's MCX, the gold futures slated for June delivery were trading 2.5% lower at about Rs 1.49 lakh per 10 gram.

Fourteen out of fifteen sectoral gauges compiled by the NSE trade lower, led by the NSE Nifty PSU Bank Index's 2.4% losses. On the flipside, the NSE Nifty IT Index was the only sectoral gainer, up 1.5%

Oil markets remain under pressure due to reduced flows from the Gulf, particularly through the Strait of Hormuz, a key transit route for global energy supplies.

At 9 am on Thursday, the MCX gold April futures contract dipped 1.48% to Rs 152,490 per 10 grams, while the MCX silver May futures were down 4.57% to Rs 2,32,259 per kg.

Gold rates in southern Indian cities lead the market, with Chennai at Rs1,53,640 per 10g, while silver prices peak in Chennai and Hyderabad, reflecting a national price rally.

Prices of commercial LPG were hiked by Rs 195.50 on Wednesday, April 1, on the back of surge in global crude oil prices linked to the escalating Middle East conflict.

Brent had earlier fallen 1.4% to around $99.70 per barrel after dropping as much as 1.8% intraday, while WTI had slipped as much as 2.4% to $97.70.

In the international markets, spot gold gained 0.8% to $4,703.66 an ounce as of 8:38 a.m. Singapore time. Silver fell 0.5% to $74.82

Fourteen out of fifteen sectoral indices compiled by the NSE ended higher, led by the NSE Nifty India Defence Index's 5.3% rally. On the flipside, the NSE Nifty Pharma Index was the only sectoral loser, down 1%

A successful delivery by the vessel would mark India's first purchase of crude from Iran since May 2019..

MCX gold April futures contract rose 0.48% to Rs 1,48,396 per 10 grams, while the MCX silver May futures were down 0.85% to Rs 2,38,836 per kg.

Brent crude hovered below $105 per barrel, while West Texas Intermediate traded near $102, after a sharp drop in the previous session.

The increase comes as global oil prices have risen amid disruption to energy supplies linked to the conflict in the Middle East.

Aluminium advanced toward $3,500 a ton in London, on course for a monthly gain of 10%. That's the most since April 2024, and bucks a broader downtrend for metals in March.

Surging US yields, a strong dollar and pre-war price highs trigger a gold selloff, challenging its traditional safe-haven appeal amid geopolitical turmoil.

The rally in domestic bullion mirrored gains in international markets. US spot gold was trading at $4,561.83 per ounce, up 1.53%.

Nifty sees major slump during the lat 30-minute trade amid weekly and monthly F&O expiry. All the 15 sectoral gauges compiled by the NSE declined, led by the NSE Nifty PSU Bank Index's 4.5% fall.

The MCX gold April futures contract fell 0.41% or Rs 597 to Rs 1,43,742 per 10 grams, while the MCX silver May futures dropped 0.27% or 611 to Rs 2,27,343per kg on Monday

Gold and silver prices rose in India on Monday due to improved geopolitical sentiment and falling oil prices, with gold around Rs 1,47,310 per 10 grams and silver at Rs 2,28,380 per kg.