Crude prices on Monday scaled up a whopping 9 percent consequent on the news broke out that Pfizer's vaccine trial against Covid 19 is almost 90 percent effective in preventing the outbreak. As per media report, on Friday at the end of session top 10 clientele were cumulatively short by 2825 contracts against their counterparts who were long 1743 contracts.

On short-covering, crude oil prices surged to Rs. 3025 per barrel. According to the statement by Naveen Mathur, associate director Anand Rathi Share & Stock Brokers, it quotes. "If big traders were cumulatively short, there could be margin calls on them the next day if the rally sustained,"

Further, within minutes of the vaccine trial news, gold futures on the Multi Commodity Exchange (MCX) plunged by as much as Rs. 2815 to day's low of Rs. 49705 per 10 gm. And in the optimism of further price correction in the precious yellow metal gold on risk-on sentiment, jewellers hope good buying in physical gold. Also, if prices continue to fall with Dhanteras, Diwali around the corner, there shall be a rise in demand in gold.

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