MUMBAI: Commodity futures ticked higher as strong economic cues from the US boosted sentiment.
Nymex crude oil was traded 1.5% higher at $83.66 per barrel after overcoming the initial sluggishness. US economic data spurred optimism about recovery in the world's largest energy consumer.
Gold extended gains as the US dollar retreated against the euro raising the yellow metal's investment allure. Spot gold was at $1,116.20 an ounce, up $13.90 an ounce from New York's notional close on Tuesday.
Domestic commodity counters surrendered to rupee strength.
MCX crude oil futures for April settlement moved between Rs 3,763 and Rs 3,711, and was last traded at Rs 3,754 per barrel.
MCX gold for April settlement was last quoted at Rs 16,345 per 10 gram after moving between Rs 16,351 and Rs 16,275 per 10 gram. MCX silver May contract gained 0.6% to trade at Rs 26,977 per kg...
