Commodity outlook: Natural gas gains; here’s how others may fare
NEW DELHI: Barring natural gas, all bullion, metal and energy counters traded with losses on MCX in Wednesday’s trade as military tensions between India and China worried investors.
Gold slipped 0.50 per cent and silver 0.86 per cent while crude oil dropped 2.66 per cent but its peer natural gas added 0.08 per cent. The base metal trio of zinc, lead and copper fell up to a per cent.
“Escalating global geopolitical tensions amid concerns of a second wave of virus spread in China continue to lift gold’s safe haven appeal. However, reviving global economic sentiments from the coronavirus fallout are likely to limit major gains,” said Hareesh V, Head Commodity Research at Geojit Financial Services.
