INDIAN NEWS & TIMES

Saturday, May 21, 2022

Influenced by a ream of economic events, commodities started the session on a mixed note. Stocked by below than expected US job report, spot gold regained momentum in the early part and is hovering near $1315 a troy ounce

Silver is also trading firm at $ 20 a troy ounce in the international front tracking moves in the yellow metal. Supported by an upbeat PMI numbers from world’s second largest oil consumer China, WTI crude edged higher in the early part and is hovering in a narrow range amid profit booking at higher levels

Earlier, Chinese Purchasing Managers Index showed a reading of 51.3 in July, unchanged from previous reading. On the other hand, natural gas prices extended its previous week losses on supply woes and the forecast of a milder temperature across the US. Despite positive PMI figures from China and Euro zone, base metals are trading with mixed sentiments

On MCX, buyers retrieved strength in lead and nickel while copper and zinc trimmed early gains on profit booking. An industry data from the Euro zone earlier showed that service sector activity in the region unexpectedly rose last quarter

On the domestic front due to lack of triggers, Indian equity benchmark indices ended the lackluster session flattish. Rupee erased early gains against the US dollar and is quoted up by 12 paisa at 60.98 a dollar mark