India, Sept. 17 -- The two dominant trends which are influencing the global commodity market at present are high crude oil prices and high gold prices. The Brent crude is still trading above the Rs. 9,593 per barrel level even after the easing of supply disruption fears, whereas gold has made a recovery amid the latest Fed rate increase.

However, for India, these movements are especially significant as it imports a big part of its crude oil needs, whereas gold continues to be a big investment and consumption commodity. Movements in the price of crude oil will affect inflation, rupee and firm costs, while gold will be impacted by interest rate, dollar and geopolitical situations.

What's the News? Brent crude futures on September 17 were...