Gold prices firm up amid rising Iran-Israel tensions
Gold futures, maturing on June 5, 2024, stood at Rs 72,813 per 10 grams on the MCX, up Rs 536 or 0.74 per cent from the previous day’s close of Rs 72,277.
The Indian Bureau of Mines has released provisional day which says that the cumulative growth for the period April to February 2021-22 over the corresponding period of the previous year has increased by 13.2 per cent.
The index of mineral production of mining and quarrying sector for the month of February, 2022 (Base: 2011-12=100) at 123.2, was 4.5% higher as compared to the level in the month of February, 2021.
Production level of coal in February, 2022 were 795 lakh tonnes, Lignite 47 lakh tonnes, Natural gas (utilized) 2515 million cu. m., Petroleum (crude) 23 lakh tonnes, Bauxite 2120 thousand tonnes, Chromite 373 thousand tonnes, Copper conc. 9 thousand tonnes , Gold 125 kg, Iron ore 227 lakh tonnes, Lead conc. 29 thousand tonnes, Manganese ore 293 thousand tonnes, Zinc conc. 143 thousand tonnes, Limestone 333 lakh tonnes, Phosphorite 108 thousand tonnes, Magnesite 10 thousand tonnes and Diamond 48 carat.
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Moreover, the production of important minerals showed positive growth during February, 2022 over February, 2021. Diamond showed maximum growth of 43.4% while Lignite recorded 24.7% growth. The growth of other minerals was – Natural Gas (U) (12.5%), Phosphorite (9.9%), Zinc conc 8.7%), Bauxite (8.3%), Coal (6.6%), Iron Ore (5.9%) and Magnesite (0.6%).
There were of course some minerals which showed negative growth. The pack was led by Limestone which showed the negative growth of 0.5%, followed by Gold which had negative growth of 2.1% followed by Petroleum (crude) (-2.2%), Lead conc (-14.0%), Manganese ore (-17.3%), Copper (-19.8%) and Chromite (-33.1%).
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