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The commodities market today is driven by oil supply worries and safe-haven assets demand. On Thursday, the 10-year yield rose to 3.99%, the dollar index remained steady at 103.23, WTI crude oil rose 1.2% to $76.11/barrel, while gold rose 1.3% to $2,465/ounce.
Short-Term Yields Outperform Long-Term: The US two-year Treasury yield increased by 3.5 basis points to 4.03%, while the 10-year rate rose by a smaller margin of 2.4 basis points to 3.99%.
Dollar Holds Steady Amid Market Volatility: The dollar index remained unchanged at 103.23.
Oil Prices Climb on Supply Concerns: West Texas Intermediate crude oil rose 1.2% to $76.11 per barrel, while Brent crude closed at $79.16 per barrel, up 1.06%.
Precious Metals Rally: Gold prices increased by 1.3% to $2,465 per ounce, and silver saw a 2.4% rise, trading at $27.60 per ounce. Investors are turning to precious metals as a hedge against market volatility and uncertainty.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹68,656.00 | +17.00 | +0.02 |
SILVER | ₹78,617.00 | -475.00 | -0.60 |
COPPER | ₹771.50 | -5.00 | -0.64 |
CRUDE OIL | ₹6,316.00 | +174.00 | +2.83 |
NATURAL GAS | ₹177.30 | +8.60 | +5.10 |
Note: Stats/Prices updated as of August 9, 2024, at 9:06 AM.
Source: Moneycontrol
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