The US consumer inflation numbers that came out on Tuesday seem to be having an impact on the commodities today. Consumer inflation in the US stood at 0.2% which could be the reason behind decline in USD leading to surge in Gold price in India.
There was stability in buying, especially in the metal space. Shanghai metal had seen a fall for the last few sessions which has witnessed 1 to 2 percent gains today. Iron ore prices seem to be recovering today after a decline for 8 days, the longest losing streak since July 2015. Apart from these, crude oil prices were seen stable after two days of decline.