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Commodities Market Today | Crude Oil Retreats from Two-Month High

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Synopsis:

The commodities market today is driven by the Fed’s dovish comments and economic uncertainty. The 10-year yield fell to 4.428%, the dollar index slipped to 105.74. Brent rose settled at $87.46/barrel, while spot gold fell 0.21% to $2,326.90/ounce.

Top News and Events

  • Treasury Yields Fall Amid Economic Uncertainty: On Tuesday, the yield on the benchmark 10-year Treasury note fell nearly 5 basis points to 4.428%, reflecting investor concerns about the economy.

  • Dollar Dips Following Dovish Fed Comments: The dollar slipped 0.2% to 105.74 on Tuesday after Federal Chair Jerome Powell hinted at potential easing of monetary policy later this year.

  • Crude Oil Retreats from Two-Month High: US crude oil prices pulled back on Tuesday after reaching a two-month high. WTI crude hit $84.38 before closing at $82.81 per barrel, while Brent rose to $87.46 before settling lower.

  • Gold Prices Decline as Investors Await US Jobs Data: Gold prices edged down 0.21% to $2,326.90 per ounce on Tuesday as steady Treasury yields and comments from Federal Reserve Chair Jerome Powell kept investors cautious ahead of US jobs data.

Additional Read: Commodities Market Today

Prices of Popular Commodities

The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)

Name

LTP

Change

Change%

GOLD

₹71,447.00

-64.00

-0.09

SILVER

₹87,827.00

+182.00

+0.21

COPPER

₹849.00

+7.30

+0.87

CRUDE OIL

₹6,954.00

+149.00

+2.19

NATURAL GAS

₹206.70

-10.40

-4.79

Note: Stats/Prices updated as of July 3, 2024, at 9:11 AM.

Source: Moneycontrol

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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