Commodities Market Today | Oil Drops $1/barrel, Gold Rises 1%

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The commodities market today reacted to a gloomy consumer sentiment report. The 10-year yield hit 4.5%, dollar index edged up 0.09% to 105.31, Brent crude settled 1.3% lower at $82.79, while spot gold rose 1% to $2,369.49 per ounce.

Top News and Events

  • Yield Surge Amid Gloomy Sentiment: US Treasury yields surged on bleak consumer sentiment, hinting at higher inflation. The 10-year yield hit 4.5%, up over 5 basis points, and the 2-year yield reached 4.87%, climbing over 6 basis points.
  • Dollar Edges Up Amid Sentiment Shift: The dollar rose slightly after a US consumer sentiment report, with focus now on upcoming inflation data. The dollar index edged up 0.09% to 105.31.
  • Oil Prices Dip on Interest Rate Speculation: Oil prices dropped nearly $1 per barrel on Friday amid Fed officials' hints of prolonged high interest rates. Brent crude settled 1.3% lower at $82.79, while US West Texas Intermediate crude fell 1.26% to $78.26.
  • Gold Surges on Robust Demand: Gold prices surged on robust demand following disappointing US jobs data, marking their strongest week in a month. Spot gold rose 1% to $2,369.49 per ounce, with US gold futures for June delivery settling 1.5% higher at $2,375.00 per ounce.

Additional Read: Commodities Market Today

Prices of Popular Commodities

The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)

























Additional Read: Share Market News

Note: Stats/Prices updated as of May 13, 2024, at 9:14 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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