New Delhi, 13 November (H.S.): Domestic commodity markets witnessed mixed trading during the first session on Friday, which continued until 5 pm on the Multi Commodity Exchange (MCX). While gold and crude oil prices registered modest gains, silver and industrial metals remained under selling pressure. Amid mixed global market cues and a strengthening US dollar, investors maintained a cautious approach throughout the session.

In the bullion segment, gold futures remained in positive territory as the first session drew to a close. Gold futures for December delivery were trading at Rs 1,36,459 per 10 grams, up Rs 234, or 0.17 per cent. In contrast, silver futures witnessed profit-booking at higher levels. The December silver contract declined by Rs 874, or 0.49 per cent, to Rs 1,77,850 per kilogram.

In the energy market, crude oil prices fluctuated within a limited range during the first session. In the international market, Brent crude initially declined by 0.65 per cent from its previous closing level to trade at $95.20 per barrel. However, prices subsequently recovered, with Brent crude rising by 0.43 per cent to reach $96.23 per barrel. Meanwhile, the US benchmark, West Texas Intermediate (WTI) crude, was trading at around $88.39 per barrel. In the domestic market, a weaker rupee supported crude oil prices on the MCX, where the commodity gained Rs 46, or 0.55 per cent, to reach Rs 8,346 per barrel.

The base metals segment continued to remain weak during the first session. Amid indications of sluggishness in global manufacturing demand, aluminium prices in the international market fell by 0.68 per cent to $2,998.45 per tonne. Aluminium also remained under pressure in the domestic spot and futures markets, trading at around Rs 328.90 per kilogram. Copper prices, too, faced resistance at higher levels, leaving the metal subdued within a narrow range of Rs 1,330 to Rs 1,352 per kilogram.

Commodity market experts said that persistent geopolitical tensions in Central Asia were providing support to crude oil and gold prices at lower levels. However, the strength of the US Dollar Index and uncertainty surrounding interest rates were acting as significant constraints on gains in precious metals. According to experts, gold, silver and crude oil could continue to witness volatility during the second trading session in the evening, depending on the release of international economic data.

---------------

Hindusthan Samachar / Jun Sarkar