Precious metals lost some shine on the Multi Commodity Exchange (MCX) last week as both gold and silver futures closed lower. Between October 31 and November 6, gold futures fell by ₹895 per 10 grams, while silver futures dropped by ₹1,771 per kilogram.
The overall turnover on MCX across commodities, options, and indices stood at ₹31,39,980.56 crore for the week. Out of this, commodity futures contributed ₹2,53,052.22 crore, while options turnover reached ₹28,86,905.15 crore. The bullion index Bulldex closed at 28,440 points.
Trading in gold and silver futures together touched ₹1,84,565.49 crore. MCX gold December futures opened at ₹1,21,148, touched a weekly high of ₹1,22,325 and a low of ₹1,19,150, before closing at ₹1,20,613 per 10 grams. This marked a decline of 0.74% from the previous week. Gold-Guinea November futures ended 0.52% lower at ₹97,593 per 8 grams. Gold-Petal futures dropped 0.38% to ₹12,211 per gram, while Gold-Mini December futures slipped 0.72% to ₹1,20,587 per 10 grams. Gold-Ten November futures also closed 0.69% lower at ₹1,20,858 per 10 grams.
Silver futures mirrored the fall. December contracts opened at ₹1,48,140, touched a high of ₹1,50,000 and a low of ₹1,44,000, before closing at ₹1,47,069 per kg, down 1.19%. Silver-Mini and Silver-Micro November futures fell 1.73% and 1.7% to ₹1,48,585 and ₹1,48,609 per kg, respectively.
The base metals segment recorded a turnover of ₹13,009.12 crore. Copper November futures dropped by 1.16% to ₹1,000.05 per kg. Zinc edged up 0.12% to ₹300.65 per kg, aluminium gained 0.56% to ₹271.75 per kg, and lead rose 0.27% to ₹183.7 per kg.
In the energy segment, trades worth ₹55,460.70 crore were executed. Crude oil November futures fell 2.39% to ₹5,262 per barrel. Crude Oil-Mini futures declined 2.3% to ₹5,267 per barrel. However, natural gas saw a sharp rise, gaining 9.27% to close at ₹380.9 per MMBTU, while its mini variant settled at ₹380.7, up 9.24%.
Among agricultural commodities, mentha oil November futures edged up 0.31% to ₹931.80 per kg. Cotton November contracts gained ₹530 to close at ₹25,940 per bale, while cardamom November futures slipped ₹65 to ₹2,689 per kg.
From a trading volume perspective, gold contracts on MCX saw deals worth ₹1,20,205.70 crore, while silver contracts recorded ₹64,359.79 crore. Copper traded ₹9,182.40 crore, zinc ₹2,418.75 crore, and aluminium ₹1,219.93 crore. Crude oil and its mini variants together saw trades worth ₹7,610.38 crore. Natural gas and its mini futures clocked ₹47,763.47 crore in turnover.
At the close of the week, open interest stood at 13,489 lots in gold futures and 19,651 lots in silver futures. Crude oil had 12,570 lots open, while natural gas recorded 18,298 lots. In index futures, Bulldex November contracts opened at 28,538 points, moved between 27,900 and 28,747, and finally settled 98 points lower at 28,440.
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