Tag: commodity markets

  • MCX Gold Rises 0.5% to Rs 1,49,608 Ahead of US Jobs Data; Key Levels to Watch

    MCX Gold Rises 0.5% to Rs 1,49,608 Ahead of US Jobs Data; Key Levels to Watch

    Gold prices edged higher on the Multi Commodity Exchange (MCX) on Friday, August 7, as investors awaited the release of the US non-farm payrolls (NFP) report for clues on the Federal Reserve’s interest rate trajectory. August gold futures rose 0.5% to Rs 1,49,608 per 10 grams, while September silver futures advanced 1.09% to Rs 2,28,300.

    Domestic Gold Prices

    In the Indian bullion market, 24K gold increased by Rs 16 to Rs 1,49,890 per 10 grams, and 22K gold gained Rs 15 to Rs 1,37,400. Regional prices remained largely uniform: Mumbai and Kolkata quoted Rs 1,49,890, Delhi Rs 1,50,040, and Chennai Rs 1,50,000.

    Global Gold and Commodity Markets

    Internationally, spot gold rose 0.6% to $4,262.39 per ounce, heading for its biggest weekly gain since January. US gold futures climbed 0.5% to $4,321.50. The rally was supported by weaker oil prices and expectations that the Fed may adopt a more dovish stance.

    Spot silver added 1.3% to $62.27, platinum rose 0.5% to $1,737.25, while palladium slipped 0.2% to $1,368.37. In the energy market, Brent crude futures rose 1.83% to $84 per barrel, and US West Texas Intermediate (WTI) edged up 1.67% to $78.58.

    Key Technical Levels

    Analysts noted that the $4,000 level has emerged as solid support for gold. XAU/USD trades at $4,260.68 on the daily chart, holding above the 21-day simple moving average (SMA) at $4,083.25 and the 50-day SMA at $4,151.23, keeping the near-term bias bullish.

    On the upside, immediate resistance is at the 100-day SMA of $4,389.72, followed by a more substantial barrier at the 200-day SMA around $4,494.54. On the downside, support lies at the 50-day SMA near $4,151.23 and then $4,083.25.

    “Regardless of how NFP plays out, $4,000 has proven to be a solid support level — and I suspect bulls are waiting for dips to take advantage of a much-needed correction higher towards $4,600. NFP may provide some noise over the near term, but price action has spoken, and gold looks like it wants to rally,” said market analyst Simpson.

    Investors now await the US non-farm payrolls data, which could provide further direction for gold prices in the near term.

  • Oracle Fusion Cloud Expert Builds Resilient Pricing Systems for Volatile Commodity Markets

    Oracle Fusion Cloud Expert Builds Resilient Pricing Systems for Volatile Commodity Markets

    The London Metal Exchange (LME) operates on its own relentless schedule: copper closes at one price on Tuesday, opens at another on Wednesday, and by the time a Friday shipment leaves a warehouse, the price that mattered when the order was booked may bear no resemblance to the price that matters when the invoice is cut. For metals and mining companies, that gap between booking and billing has long lived inside spreadsheets, side-channel emails, and manual reconciliation processes that quietly drain margin from the order-to-cash cycle.

    Inside a Big Four management consulting firm’s Oracle Cloud Supply Chain practice, a senior Principal Oracle Cloud SCM Consultant has spent over two decades designing systems that close that gap. Nabil Parkar specializes in Order Management, Pricing, Supply Chain, and Financial integration across Oracle E-Business Suite and Oracle Fusion Cloud. Over twenty-two years, he has built what colleagues describe as “bulletproof” pricing engines for metals and mining enterprises whose product prices are dynamically linked to global indices like the LME. The architecture handles scenarios standard ERP pricing models were never built for: next-day closing-price consideration, shipment-date repricing, future-date fixation, and floating-to-fixed conversions—all running concurrently across multi-contract environments.

    Commodity-driven industries don’t behave like the catalog businesses ERP pricing was originally designed for. “Commodity-driven industries require pricing systems that are not only technically scalable but also commercially intelligent,” Parkar says. “Traditional ERP pricing models are often insufficient for industries such as metals, mining, energy, and commodities where pricing changes daily or even hourly based on global exchanges.”

    The frameworks Parkar has architected push pricing logic out of side spreadsheets and into the order lifecycle itself. Repricing triggers automatically at order booking, shipment confirmation, delivery execution, and any future-date commodity-fixation event. Customers can lock future prices, accept next-day closing rates, reprice at the shipment stage, or move between floating and fixed pricing based on contractual rules. Every step leaves an audit trail—critical in a volatile market where the question of which LME rate was used and why is never abstract.

    Results give the work its weight. Manual pricing intervention dropped by roughly 70–80% in environments where Parkar’s frameworks were implemented. Pricing-related disputes fell by more than 60%. Order-to-cash cycle times accelerated by 30–40%. Pricing reconciliation effort during invoicing and audits dropped by more than half. These aren’t marginal gains from incremental tuning; they are structural changes that can transform how a metals business closes its books.

    Parkar’s preventive-control discipline extends beyond price into the financial instruments that secure high-value export sales. His March 2026 paper in the International Journal of AI, Big Data, Cloud and Mobile Systems describes a Financial Instrument Control architecture that embeds Bank Guarantee and Security Deposit validation directly inside Oracle’s order-booking lifecycle, replacing spreadsheets that metals exporters had long relied on to track customer coverage. In production use, the model reduced booking exceptions tied to insufficient financial coverage by roughly 85–95%.

    A separate February 2026 paper, this one in the International Journal of Engineering Trends in Computer Science and Information Technology, takes on the SKU problem from another angle. Metals customers don’t order by SKU; they order by grade, alloy, and material specification. Standard ERP forces SKU commitment at order entry. Parkar’s attribute-based fulfillment architecture decouples the two, so an attribute-driven order can land on whichever SKU is actually available.

    For Parkar, the hardest part of the design wasn’t the technology—it was the discipline. Pricing behavior varied with the customer contract, shipment timing, and the state of the underlying market, all at once. Holding all of that inside a configurable Oracle pricing architecture, instead of letting it sprawl across one-off customizations, was the engineering problem.

    Across multiple Oracle EBS R12 transformations and Oracle Fusion Cloud modernization programs at large commodity-driven enterprises, and across a body of four published papers in supply-chain and procurement journals through early 2026, Parkar has been the architect translating commercial pricing logic into something the system can execute and the finance team can audit. He has worked across supply chain teams, finance, and executive leadership to align ERP pricing with how commodity markets actually behave. Most ERP implementations gloss over that alignment; most pricing teams find out about it only after the disputes start arriving.

    What comes next, in Parkar’s view, is the end of pricing as back-office plumbing. He points to real-time market-integrated engines and AI-assisted pricing recommendations, predictive shipment optimization, event-driven repricing, and cloud-native governance frameworks—all heading in the same direction. Oracle Fusion Cloud is moving that way too, with configurable workflows, intelligent automation, and analytics built into the pricing layer itself. The deeper shift, he argues, is the move from static pricing to adaptive models, where the final price stops being a number set at booking and becomes a function of contracts, logistics events, commodity indices, customer agreements, and supply chain conditions, all weighed at once.

    “From firsthand implementation experience, successful pricing transformation depends not only on technology but also on deeply understanding the business behavior behind pricing decisions,” Parkar says. “The ability to translate complex commercial pricing logic into scalable ERP architecture is what ultimately creates long-term operational resilience and competitive advantage.” For metals businesses that have lived with the gap between the booking price and the invoice price, that translation is the difference between a margin and a reconciliation.

  • MCX Gold Slips 0.27% to Rs 1,44,901 as Brent Crude Rises; US-Iran Uncertainty Weighs

    MCX Gold Slips 0.27% to Rs 1,44,901 as Brent Crude Rises; US-Iran Uncertainty Weighs

    Gold prices on the Multi Commodity Exchange (MCX) declined on July 10, tracking weak global cues and ongoing uncertainty surrounding the US-Iran conflict. August gold futures slipped 0.27% to Rs 1,44,901 per 10 grams. September silver futures also edged lower, falling 0.08% to Rs 2,26,200.

    Meanwhile, international crude oil prices gained. Brent crude futures rose 0.50% to $76.66 a barrel, while US West Texas Intermediate (WTI) advanced 0.46% to $72.41 a barrel.

    According to the CME FedWatch Tool, traders now see a 64% probability of a September rate hike by the Federal Reserve, up from 54% a week earlier.

    Domestic Gold Prices

    In the domestic spot market, 24K gold rose by Rs 38 to Rs 1,44,820 per 10 grams, while 22K gold gained Rs 35 to Rs 1,32,750. City-wise, Mumbai and Kolkata quoted identical rates at Rs 1,44,820, Delhi was at Rs 1,44,950, and Chennai at Rs 1,45,640.

    US Gold Prices

    In the US, gold prices edged higher on Friday as the dollar softened and concerns over escalating US-Iran tensions fueled inflation worries, keeping the Federal Reserve on a hawkish path. Spot gold was up 0.2% at $4,128.92 per ounce. US gold futures for August delivery held steady at $4,139.50.

    Spot silver rose 0.8% to $60.46 per ounce, platinum gained 1.6% to $1,636.68, and palladium added 1.6% to $1,267.

    Key Levels to Watch

    “Gold is in consolidation mode today following yesterday’s gains, with traders hesitant to commit to further upside amid the prevailing uncertainty over US-Iran relations,” said Tim Waterer, chief market analyst at KCM Trade.

    “I expect gold will continue to attract buyers on dips as long as oil stays around current levels. However, any sharp spike in oil could reignite inflation and interest rate fears, which would be to gold’s detriment,” Waterer added.

    Internationally, gold has support at $4,110 and $4,074, while resistance is at $4,165 and $4,200 per troy ounce. Silver has support at $59.80 and $58.50, with resistance at $61.40 and $63 per troy ounce.

    On MCX, gold has support at Rs 1,44,400 and Rs 1,43,650, and resistance at Rs 1,46,150 and Rs 1,47,000. Silver has support at Rs 2,24,000 and Rs 2,21,000, with resistance at Rs 2,29,100 and Rs 2,32,000.

  • MCX Gold Slips 0.63% to Rs. 1,45,990 as Brent Crude Rises; All Eyes on Fed Minutes

    MCX Gold Slips 0.63% to Rs. 1,45,990 as Brent Crude Rises; All Eyes on Fed Minutes

    Gold futures on the Multi Commodity Exchange (MCX) traded lower on Tuesday, July 7, as investors awaited the release of the US Federal Reserve’s June policy meeting minutes for further clues on the central bank’s monetary policy trajectory. The August gold contract declined by 0.63% to settle at Rs. 1,45,990 per 10 grams.

    In the precious metals complex, September silver futures also witnessed a decline, falling 1.23% to Rs. 2,33,201 per kilogram. Meanwhile, in the energy market, Brent crude futures edged up 0.60% to $72.42 a barrel, while US West Texas Intermediate (WTI) crude advanced 0.51% to $68.90 a barrel.

    According to the CME FedWatch Tool, market participants now see a 56% probability of a rate hike at the Fed’s September meeting, down from the previous week’s reading of 60%.

    Domestic Gold Prices

    In the local physical market, 24-karat gold fell by Rs. 136 to Rs. 1,45,260 per 10 grams, while 22-karat gold declined by Rs. 125 to Rs. 1,33,150. Regional variations were observed: Mumbai and Kolkata quoted 24K gold at Rs. 1,45,260, Delhi at Rs. 1,45,410, and Chennai at Rs. 1,47,920.

    US Gold Prices

    US gold prices eased on Tuesday, trading below a two-week high, as investors adopted a cautious stance ahead of the Fed minutes. Spot gold fell 0.6% to $4,138.32 per ounce, and US gold futures for August delivery dipped 0.4% to $4,149.90.

    Among other precious metals, spot silver slipped 1% to $61.48 per ounce, platinum eased 0.1% to $1,629.46, while palladium posted a modest gain of 0.4% to $1,272.85.

    Key Levels to Watch

    “Gold price action looks like a continuation of last week’s basing, forming a support level. The market is clearly waiting for direction from the Fed minutes to get a better sense of the Fed’s thinking on short-term interest rate policy,” said Nicholas Frappell, global head of institutional markets at ABC Refinery.

    Internationally, gold has support at $4,135 and $4,100 per troy ounce, with resistance at $4,194 and $4,220. Silver support stands at $61.20 and $59.80, while resistance is seen at $63.40 and $64.20. On MCX, gold support is at Rs. 1,46,100 and Rs. 1,45,500, resistance at Rs. 1,47,400 and Rs. 1,48,200. For silver MCX, support is at Rs. 2,33,300 and Rs. 2,30,000, with resistance at Rs. 2,38,800 and Rs. 2,41,000.

    Investors remain focused on the Fed minutes release scheduled later this week, which could provide clearer signals on the timing and pace of potential rate adjustments.

  • Gold Dips Below $4,000 as Commodity Markets Close for Muharram Morning Session; Silver Nears $56

    Gold Dips Below $4,000 as Commodity Markets Close for Muharram Morning Session; Silver Nears $56

    The commodities market remained closed for the morning session on Friday due to Muharram, operating from 9:00 am to 5:00 pm. Evening trading resumed as usual from 5:00 pm to 11:30 pm/11:55 pm. Gold and silver prices continued to face downward pressure, extending a fourth consecutive weekly decline amid a stronger US dollar and expectations of higher US interest rates.

    According to the CME FedWatch Tool, traders now anticipate three rate hikes from the US Federal Reserve this year, with a 64% probability of a September increase. The robust dollar and hawkish Fed outlook weighed heavily on bullion, pushing spot gold below the $4,000 mark for the first time since November 2025. Spot gold fell 0.9% to $3,991.49 per ounce, while US gold futures for August delivery lost 1% to $4,007.30.

    Other precious metals also declined: spot silver dropped 3.2% to $56.01 per ounce, platinum lost 2.4% to $1,563.20, and palladium slid 1.6% to $1,165.93. Gold has fallen roughly 29% from its record high of $5,594.82 on January 29.

    Domestic Gold Prices in India

    In the domestic market, 24K gold rose by Rs. 27 to Rs. 1,41,600 per 10 grams, while 22K gold gained Rs. 25 to Rs. 1,29,800. City-wise prices were: Mumbai and Kolkata at Rs. 1,41,600, Delhi at Rs. 1,41,750, and Chennai at Rs. 1,43,340.

    Key Levels to Watch

    “The rapid repricing of the hawkish Fed created a strong bullish momentum in the US dollar, which eventually led to this significant downward drift in gold prices,” said Kelvin Wong, senior market analyst at OANDA. Renisha Chainani, Head of Research at Augmont, noted that the unwinding of yen carry trades, as USDJPY slides to a 40-year low on rising Japanese interest rates, is creating ripple-effect selling across safe-haven assets.

    Chainani explained that gold has broken below its key $4,000 support and dropped toward $3,950. A sustained breakdown could open the path toward $3,600, although oversold conditions leave room for a bottom-fishing or short-covering rally toward $4,100 and $4,165. She added that silver has also broken below the $60 level and slipped to $55.50, with the next support at $50 if bearish momentum continues.

    Meanwhile, Brent crude futures declined 1.77% to $73.93 a barrel, and US West Texas Intermediate (WTI) fell 1.86% to $70.58 per barrel.