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The commodities market today discusses how U.S. crude hit its lowest since June 2023, down 8% this week. Gold retreated 0.8% as mixed U.S. jobs data raised doubts on rate cuts.
U.S. crude oil hit the lowest level since June 2023, putting the benchmark on pace for its worst week in nearly a year, as OPEC+ has failed to reassure the market about the global supply and demand balance. U.S. crude hit a low of $67.17 earlier in the session and shed 8% for its worst week since October. The Brent global benchmark has fallen 9.8% last week.
Gold prices fell on Friday, retreating from near-record levels reached earlier after mixed U.S. jobs data cast doubts on the scale of interest-rate cut from the Federal Reserve this month. Spot gold fell 0.8% to $2,495.85 per ounce.
The day’s rate of Gold, Silver, Copper, Crude Oil and Natural Gas
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹71,544.00 | 118.00 | 0.17 |
SILVER | ₹83,170.00 | 413.00 | 0.50 |
COPPER | ₹783.20 | 1.30 | 0.17 |
CRUDE OIL | ₹5,768.00 | 64.00 | 1.12 |
NATURAL GAS | ₹185.10 | -5.90 | -3.09 |
Note: Stats/Prices updated as of September 09, 2024, at 9:00 AM.
Source: Moneycontrol
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