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The commodities market today is driven by economic uncertainty and weak global demand. On Friday, the 10-year yield fell to 3.8%, the dollar index fell to 103.09, WTI crude oil fell 2.9% to $74.13/barrel, while gold rose 0.1% to $2,482.70/ounce.
Significant Drop in US Treasury Yields: The US two-year yield fell by 28.1 basis points to 3.88% on Friday, and the 10-year rate dropped by 17.8 basis points to 3.8%.
Dollar Index Hits 20-Week Low: The US Dollar Index decreased to a 20-week low of 103.09, losing 1.98% over the past four weeks.
Crude Oil Prices Drop: West Texas Intermediate crude oil fell by 2.9% to $74.13 per barrel on Friday, while Brent crude futures slightly decreased by 0.1% to $76.77. This drop is attributed to concerns about global demand.
Precious Metals See Modest Gains: Gold increased by 0.1% to $2,482.70 per ounce, and silver rose by 0.6% to $28.64 per ounce. These gains are driven by investor interest in safe-haven assets amid economic uncertainty.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change | Change% |
GOLD | ₹70,095.00 | +690.00 | +0.99 |
SILVER | ₹83,371.00 | -29.00 | -0.03 |
COPPER | ₹799.00 | -3.60 | -0.45 |
CRUDE OIL | ₹6,389.00 | -135.00 | -2.07 |
NATURAL GAS | ₹164.80 | -5.70 | -3.34 |
Note: Stats/Prices updated as of August 5, 2024, at 9:17 AM.
Source: Moneycontrol
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