Gold Silver under pressure, Crude Oil weak, Crop loss figure increased

Gold and Silver traded under pressure before decision of US Federal reserve, however Gold price remain near three week high level in international market.

At MCX Gold June future expiry is trading near Rs 27160.00 down 0.11% and Silver May Future is at Rs 37325.00 down 0.54%.

Increased reserves of Crude Oil in US has raised pressure o prices. Crude oil price downs in global as well as domestic market. According to the American Petroleum Institute US crude reserves increased nearly 42 Lakh barrel, while it is assume to increase 23 Lakh barrel.

Government raised the Crop loss figure, At MCX Crude Oil may future is traded at Rs 3614.00 down 0.33%. MCX Natural gas May future is pricing near Rs 161.90 up 0.25%.

Copper, Zinc and Nickel April future is trending down while Lead and Aluminium traded with slight gain.

Government raised the Crop loss figure due to intermittent untimely rains . Firstly the damage was estimated nearly 94 Lakh hectares, but in recent reports the scope of damage has increased nearly 190 million hectares.

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