• Source:JND
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Crude Price Today: Crude oil prices in futures rose by Rs 29 per barrel to Rs 9,752 per barrel on Wednesday as traders increased their positions due to strong spot demand amid geopolitical uncertainty. On the Multi Commodity Exchange, crude oil for June delivery was trading higher by Rs 29 (0.3 per cent) at Rs 9,752 per barrel in 8,662 lots.

Analysts said increased bets by traders kept crude oil prices higher in futures trading.

Meanwhile, in the international market, West Texas Intermediate crude rose 0.25 per cent to $101.92 per barrel, while Brent crude rose 0.02 per cent to $107.75 per barrel.

Also Read: Gold Import Duty Hike: Why India Increased Import Duty To 15%, What It Means For End Consumer

Gold, Silver Price Today

Gold and Silver rates surged in the domestic futures market on Wednesday after India hiked gold import duty to 15 per cent from the earlier 6 per cent. Gold futures, June 5 expiry, skyrocketed over Rs 11,000 to an early high of Rs 1,64,497 per 10 grams as compared to last day's closing of Rs 1,53,442 on Multi Commodity Exchange (MCX). Similarly, Silver futures, July 3 expiry, soared more than Rs 22,300 to a high of Rs 3,01,429 per kilogram against the last closing of Rs 2,79,062 on MCX.

At the time of writing, MCX Gold was trading at Rs 1,62,417, up Rs 8,975 or 5.85 per cent. MCX Silver was quoted at Rs 2,96,278, up Rs 17,216 or 6.17 per cent.

The precious metal prices did not show much volatility in the international futures market as compared to the surge in prices in the domestic market after the import duty hike was announced. At the time of writing, COMEX Gold was trading at $4,705 per ounce, up $18.30 or 0.39 per cent. COMEX Silver was quoted at $86.57, 1.3 per cent.

Also Read: Gold Rate Today: Gold Jumps Rs 11,000, Silver Inches Past Rs 3 Lakh; Check Gold Rates In Bengaluru, Chennai And Other Cities

Stock Market Today

The domestic equity market is trading higher after two days of decline amid some value buying. At the time of writing, the BSE Sensex was trading at 74,645.89, up 86.65 points or 0.12 per cent. While Nifty50 was quoted at 23,420.95, up 41.40 points or 0.18 per cent.


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