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The commodities market today is driven by inflation data and crude demand concerns. On Tuesday, the 10-year yield dropped to 3.852%, the dollar index fell to 102.73, the US crude fell 2%, while gold held near record high at $2,467.12/ounce.
Lower Inflation Data Drops Treasury Yields: Treasury yields fell on Tuesday after a key inflation report came in lower than expected. The 10-year Treasury yield dropped by 5.7 basis points to 3.852%.
US Dollar Falls on Softer Producer Price Data: The US dollar weakened as July's producer prices rose less than anticipated. The dollar index fell to 102.73.
Oil Prices Decline 2% Amid Demand Concerns: US crude oil prices fell 2% on Tuesday, driven by concerns over slowing global demand. Despite tensions between Iran and Israel, focus shifted back to fundamentals as reports from the IEA and OPEC highlighted weaker consumption in China.
Gold Prices Hold Near Record High as Dollar and Yields Decline: Gold prices remained steady near their July record high on Tuesday. Spot gold dipped 0.2% to $2,467.12 per ounce, as lower dollar and Treasury yields were offset by profit-taking.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹70,158.00 | +481.00 | +0.69 |
SILVER | ₹80,510.00 | -474.00 | -0.59 |
COPPER | ₹784.70 | -1.55 | -0.20 |
CRUDE OIL | ₹6,723.00 | +276.00 | +4.28 |
NATURAL GAS | ₹183.80 | +4.00 | +2.22 |
Note: Stats/Prices updated as of August 14, 2024, at 9:10 AM.
Source: Moneycontrol
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