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The commodities market today is driven by easing recession fears and US labour data. On Friday, the 10-year yield fell to 3.94%, the dollar index fell to 103.07, the Brent October contract closed at $79.66/barrel, while gold fell 0.1% to $2,422.99/ounce.
Treasury Yields Dip Ahead of Key Economic Reports: US Treasury yields fell on Monday, with the 10-year Treasury yield dropping by 3.7 basis points to 3.905%, as investors anticipate key inflation data and other economic reports due this week.
Yen Weakens as Fed Rate Cut Speculation Grows: The yen continued to decline against the dollar on Monday after last week’s volatility. Investors are weighing the likelihood of a significant Fed rate cut next month, ahead of key US economic data. The Dollar Index is currently at 102.98.
Crude Oil Tops $80 as Middle East Tensions Rise: US crude oil prices surged on Monday, exceeding $80 per barrel, as the Pentagon deployed more forces to the Middle East in response to potential Iranian threats against Israel. Brent crude for October delivery rose to $82.30 per barrel, up 3.31%.
Gold Prices Soar on Safe-Haven Buying: Gold prices climbed over 1% on Monday, reaching their highest level since August 2. Safe-haven buying drove the increase as traders awaited US inflation data that could influence the Federal Reserve’s interest rate decisions. Spot gold rose by more than 1% to $2,458.25 per ounce.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹69,677.00 | +441.00 | +0.64 |
SILVER | ₹80,984.00 | +996.00 | +1.25 |
COPPER | ₹785.00 | +5.00 | +0.64 |
CRUDE OIL | ₹6,447.00 | +50.00 | +0.78 |
NATURAL GAS | ₹179.80 | +1.20 | +0.67 |
Note: Stats/Prices updated as of August 13, 2024, at 9:01 AM.
Source: Moneycontrol
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