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Updated - June 14, 2026 at 11:00 AM.

1. Gold dropped below $4,300 an ounce, while silver, platinum and palladium followed the downtrend as the precious metals complex pared all the gains made this year. Investments in physically-based gold exchange-traded funds (ETFs) were negative last week, making net inflows negative for the fourth week in a row.
2. Sea surface temperatures (SSTs) crossed the drought-bearing El Nino threshold of +0.80°C as of June 7, while the Indian Ocean Dipole (IOD) could turn positive during August-September, boosting the prospects of the South-West monsoon, Australia’s Bureau of Meteorology (BoM) has said. Drought-bearing El Nino has set in, while a positive IOD will emerge by July (boreal summer), the Japanese weather agency JAMSTEC has said. El Nino has a 60 per cent chance of becoming a Super El Nino, the National Weather Service has said.
3. Hardly one in four major Indian reservoirs was filled to half, with no reservoir having storage above 90 per cent this week. The development comes on the heels of storage in the 166 major reservoirs dropping to 28 per cent of the 183.565 billion cubic metres (BCM) capacity at 51.917 BCM.
4. China has rejected at least three consignments of dried chilli and has suspended three Indian exporters over the alleged presence of methamidophos residues in the spice.
5. Following significantly lower-than-expected bids for National Fertilizer Ltd (NFL)’s recent 17-lakh-tonne (lt) urea import tender, the Indian government is reportedly weighing plans to increase its purchase volume, provided suppliers match the current rates. Opened on June 8, the latest tender prices have plunged over 50% compared to Indian Potash’s (IPL) previous round.
Published on June 14, 2026
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