the import export tarrif on commodity market changing in live commodity price

The government today hiked the import tariff value on gold to $363 per 10 gram in line with global prices. The import tariff value on silver, however, reduced to $443 per kg. For the first fortnight of this month, the import tariff value on gold was fixed at $354 per 10 gram and on silver was $457 per kg. The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing. It is normally revised on a fortnightly basis.

        The change in tariff value of these precious metals has been notified by the Central Board of Excise and Customs. The import tariff value of gold and silver has been changed taking into account the price trend in the global market and rupee situation. In London, both gold and silver prices were today ruling down at $1112.30 per ounce and $14.20 per ounce, respectively. However, rupee is ruling at a 29 months low. The country's gold imports have more than doubled to$3.80 billion in December 2015 driven by dip in global prices, as against $1.36 billion in the year-ago period.

Commodity market today

Those first-quarter forecasts are even lower than what the futures market is pricing in and are 20% or more below the consensus estimates, according to forecasts.

"Oil prices have collapsed early this year amidst rising recession fears and 'panic' levels of risk-appetite," he wrote. "Until inventories actually begin to draw there is no fundamental support for spot prices; meaning that the same macro-head winds that helped crash prices in the last four weeks can again depress oil until, in our view, inventories begin to draw."

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"Gold is keeping on benefitting significantly from its place of refuge status," Daniel Briesemann, an expert at Commerzbank in Frankfurt, said. "Powerless Asian securities exchanges mirror the reestablished vulnerability among business sector members." Bullion for prompt conveyance increased 0.5% to $1,113.72 an ounce in London, after prior touching the most astounding since November 4, as indicated by Bloomberg non specific valuing. It's up very nearly 5% this month.

Gold shut over its 100-day moving normal on Monday interestingly since October, a bullish sign for a few examiners who study diagrams. It's currently exchanging close to the half retracement of its drop from October to December, a Fibonacci level that a few merchants use to gage whether a rally will proceed or slow down. Costs might move toward $1,200 on the off chance that they break solid specialized resistance of about $1,140.

Benefits investing comodity market

    A physical or virtual marketplace for buying, selling and trading raw or primary products. For investors' purposes there are currently about 50 major commodity markets worldwide that facilitate investment trade in nearly 100 primary commodities.

      Commodities are split into two types: hard and soft commodities. Hard commodities are typically natural resources that must be mined or extracted (gold, rubber, oil, etc.), whereas soft commodities are agricultural products or livestock (corn, wheat, coffee, sugar, soybeans, pork, etc.)

      The commodities markets are one of the oldest prevailing markets in the human history. In fact, derivatives trading started off in commodities with the earliest records being traced back to the 17th century when rice futures were traded in Japan. India, being an agro-based economy, has markets for most of the agro-based commodities. India is the largest consumer of gold in the world, which implies a huge market for the yellow metal. India has huge spot markets for all these commodities.During the pre-Independence era, India also had a thriving futures market for commodities such as gold, silver, cotton, edible oils, etc. In mid-1960s, due to wars, natural calamities and the consequent shortages, futures trading in most commodities was banned.

Different types of commodities that are traded in these markets

• Precious Metals: Gold, Silver, Platinum, etc.
• Other Metals: Nickel, Aluminum, Copper, etc.
• Agro-Based Commodities: Wheat, Corn, Cotton, Oils, Oilseeds, etc.
• Soft Commodities: Coffee, Cocoa, Sugar, etc.
• Live-Stock: Live Cattle, Pork Bellies, etc.
• Energy: Crude Oil, Natural Gas, Gasoline, etc.

Commodity trading is an interesting option for those who wish to diversify from the traditional options like shares, bonds and portfolios. The Government has made almost all commodities entitled for futures trading. Consequently four commodity exchanges have been approved to commence business. They are:

• Multi Commodity Exchange of India Ltd (MCX), located at Mumbai
• National Commodity and Derivatives Exchange Ltd (NCDEX), located at Mumbai
• National Board of Trade (NBOT), located at Indore
• National Multi Commodity Exchange (NMCE), located at Ahmedabad.
  
  

     Benefits of investing in commodity market

• A Safe Refuge during Crisis
• Diversified Investment Portfolio
• Transparency in the Process
• Profitable Returns
• Protection against Inflation
• Trading on Lower Margin