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The commodities market today is driven by potential rate cut hopes and a rise in US jobless claims. On Thursday, the 10-year yield fell to 3.981%, the dollar index rose to 104.19, Brent crude futures rose 0.4% to $79.85/barrel, while gold fell 0.4% to $2,438.32/ounce.
Treasury Yields Drop on Rate Cut Hints: On Thursday, Treasury yields fell as The Fed hinted at a potential rate cut in September and US jobless claims rose. The 10-year Treasury yield dropped to 3.981%, its lowest since February 2.
US Dollar Index Up: The US Dollar Index rose by 0.32% to 104.19, reflecting the dollar's strength against other currencies.
Oil Prices Rise but Face Weekly Decline: Oil prices increased on Thursday, with Brent crude futures up 0.4% to $79.85 a barrel. However, disappointing global fuel demand growth led to a fourth consecutive weekly decline.
Gold Prices Fall Amid Stronger Dollar: Gold prices fell 0.4% to $2,438.32 per ounce on Thursday as the US dollar strengthened. Earlier, gold had hit a two-week high on rate cut expectations.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change | Change% |
GOLD | ₹69,601.00 | -53.00 | -0.08 |
SILVER | ₹83,670.00 | +1076.00 | +1.30 |
COPPER | ₹792.05 | +1.75 | +0.22 |
CRUDE OIL | ₹6,453.00 | +17.00 | +0.26 |
NATURAL GAS | ₹165.80 | -3.00 | -1.78 |
Note: Stats/Prices updated as of August 2, 2024, at 9:29 AM.
Source: Moneycontrol
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