Notification
No new Notification messages
Q2 FY'24-25 Results of Top Companies
Reliance, TCS, HDFC Bank & more: Explore key financial highlights from India's top quarterly results.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Diwali Offer: MTF at just 9.99%
Iss Diwali, Investments Ko Karo 4X with our Trade Now, Pay Later (MTF) feature
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Commodities Market Today | Oil Up Over 1% on Demand Signals

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

The commodities market today is driven by softer-than-expected US economic data. The 10-year yield fell to 4.352%, the dollar index slipped to 105.11. Brent futures rose 1.28% at $87.34/barrel, while spot gold rose to $2,359.63/ounce.

Top News and Events

  • Yen Hits 38-Year Low Against Dollar: The yen plummeted to a 38-year low against the US dollar and a record low versus the euro on Wednesday. This decline continues as market participants anticipate possible Japanese intervention to support the currency.

  • Dollar Declines on Weak US Data: The dollar fell following softer-than-expected US economic data. The dollar index dropped 0.5% to 105.11, reaching a three-week low earlier in the session.

  • US Treasury Yields Fall Amid Weak Data: The 10-year US Treasury yield decreased again on Wednesday due to weak economic data. The yield dropped over 8 basis points to 4.352%.

  • Crude Oil Prices Rise on Demand Signals: Crude oil futures increased by over 1% on Wednesday as a significant drop in US stockpiles indicated rising demand ahead of the Fourth of July. The WTI August contract rose to $83.88 per barrel, up 1.29%, and the Brent September contract increased to $87.34 per barrel, up 1.28%.

  • Gold Prices Increase on Rate Cut Bets: Gold prices rose over 1% to a near two-week high on Wednesday. This increase was driven by heightened expectations for a September interest rate cut by the Federal Reserve following data suggesting a weakening labour market.

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

₹71,975.00

+528.00

+0.74

SILVER

₹89,442.00

+1615.00

+1.84

COPPER

₹850.80

+1.80

+0.21

CRUDE OIL

₹6,916.00

-38.00

-0.55

NATURAL GAS

₹203.40

-3.30

-1.60

Note: Stats/Prices updated as of July 4, 2024, at 9:16 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

Share this article: 

Frequently Asked Questions

What exactly is the stock market, and how does it work?

Answer Field

The stock market is a platform where investors buy and sell shares of publicly traded companies. It operates through stock exchanges, where supply and demand for securities determine prices.

Why should I consider investing in the stock market?

Answer Field

Investing in the stock market offers the potential for long-term wealth growth, dividend income, portfolio diversification, and ownership stakes in successful companies.

How can I start investing in the stock market?

Answer Field

To begin investing in stocks, individuals can open a brokerage account, conduct research on companies and industries, and start building a diversified portfolio aligned with their investment goals and risk tolerance.

What factors should I consider before investing in stocks?

Answer Field

Important factors to consider include investment goals, risk tolerance, time horizon, market research, diversification, and staying informed about economic and market trends.

What are the risks associated with stock market investments?

Answer Field

Risks include market volatility, liquidity risk, company-specific risks, and the potential for loss of capital. It's essential for investors to assess their risk tolerance and diversify their portfolios accordingly.

How do I stay informed about daily market happenings?

Answer Field

You can stay informed by monitoring financial news websites, market analysis reports, earnings announcements, economic indicators, and utilising real-time market data provided by reliable brokerage platforms.

What is the difference between long-term investing and trading in the stock market?

Answer Field

Long-term investing involves holding stocks for extended periods, typically years or decades, with a focus on capital appreciation and dividend income. Trading involves buying and selling stocks more frequently, often based on short-term price movements.

How can I mitigate risks in the stock market?

Answer Field

Risk mitigation strategies include diversifying your portfolio, setting stop-loss orders, conducting thorough research, avoiding over-leveraging, and maintaining a long-term perspective on investments.

Are there any specific tax implications associated with stock market investments?

Answer Field

Yes, tax implications vary depending on factors such as investment duration, type of account (e.g., taxable brokerage account, retirement account), and realised gains or losses from selling stocks.

Can I invest in the stock market with a small amount of capital?

Answer Field

Yes, many brokerage platforms offer fractional investing or allow investors to purchase partial shares, enabling individuals with limited capital to start investing in the stock market with smaller amounts.

No Result Found

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs + Users

icon-with-text

4.8+ App Rating

icon-with-text

4 Languages

icon-with-text

₹5000+ Cr MTF Book

icon-with-text