Commodities Market Today | Crude Up 0.2% on Positive Demand Outlook

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Synopsis:

The commodities market today is driven by a positive demand outlook. The 10-year yield fell to 4.4%, the dollar index remained unchanged at 105.27. The Brent Crude climbed to $82.13/barrel, while spot gold rose slightly by 0.2% to $2,332.40/ounce.

Top News and Events

  • US Treasury Yields Decline: The US 10-year yield dropped by 7.1 basis points to 4.4% on Tuesday, and the two-year rate decreased by 5.5 basis points to 4.83%.

  • Dollar Index Holds Steady: The dollar index remained largely unchanged at 105.27, after reaching its highest point since May 14 at 105.46 overnight.

  • Oil Prices Edge Higher on Positive Demand Outlook: Oil prices rose on Wednesday following optimistic demand forecasts from the US Energy Information Administration and OPEC. Brent crude closed at $82.13, while West Texas Intermediate crude oil increased by 0.2% to $77.89 per barrel.

  • Mixed Day for Precious Metals: Gold increased by 0.2% to $2,332.40 per troy ounce, driven by safe-haven demand. In contrast, silver fell by 1.9% to $29.32 per ounce due to profit-taking.

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

₹71,164.00

+309.00

+0.44

SILVER

₹87,704.00

-1101.00

-1.24

COPPER

₹844.00

-17.50

-2.03

CRUDE OIL

₹6,491.00

+190.00

+3.02

NATURAL GAS

₹242.60

-0.80

-0.33

Note: Stats/Prices updated as of June 12, 2024, at 9:20 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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