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Commodities Market Today | May 03, 2024

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Synopsis:

Commodities market today saw a mixed trading session with oil prices holding at $78.95 per barrel (-0.06%) and Brent at $83.67 per barrel (+0.28%) amid labour market news. The dollar index exhibited a 0.35% decline, reaching 105.34. The yield on 10-year US notes saw a slight decrease from 4.591% to 4.583%, while the 2-year note yield, indicative of interest rate projections, dropped to 4.8872% from 4.939%.

Top News and Events

  • Oil Prices Hold Steady Amidst Labour Market News: Oil prices remained stable after a seven-week low but dipped slightly due to US labour market reports. US crude settled at $78.95 per barrel, down by 0.06%, while Brent closed at $83.67 per barrel, up by 0.28%.
  • Dollar Index Slips Against Major Currencies: The dollar index exhibited a 0.35% decline, reaching 105.34, reflecting the dollar's performance against six major currencies.
  • US Treasury Yields Fluctuate on Fed Updates: US Treasury yields reacted to Federal Reserve news and economic updates. The 10-year note yield fell slightly from 4.591% to 4.583%, while the 2-year note yield, reflecting interest rate expectations, declined to 4.8872% from 4.939%.
  • Gold Prices Steady Before US Payrolls Data Release: Spot gold held firm at $2,302.51 per ounce, showing minimal movement. The US gold futures remained unchanged at $2,310.40 per ounce. This week the prices dipped by over 1%. 

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

₹70746.00

-10.00

0.01

SILVER

₹80300.00

-350

0.44

COPPER

₹847.4

-1.45

0.17

CRUDE OIL

₹6611.00

10

0.15

NATURAL GAS

₹168.9

-1.1

-0.65

Note: Stats/Prices updated as of May 3, 2024, at 10:03 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.

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