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Commodity Market Movements: Gold continues its upward trend, marked by a fifth consecutive weekly gain, driven by heightened geopolitical risks.
Federal Reserve's Monetary Policy: There's a unified stance among Federal Reserve policymakers to maintain current borrowing costs well into the year amid ongoing economic assessments.
Oil Market Volatility: Unverified reports of explosions in Iran have led to a significant jump in oil prices, with Brent and West Texas Intermediate crude experiencing notable increases.
Global Oil Market Dynamics: Oil prices have surged about 16% this year, largely due to ongoing tensions in the Middle East and the geopolitical strife involving Ukraine and Russia.
Gold's Safe-Haven Status: Amid escalating Middle East tensions, gold's appeal as a safe investment continues to rise, reflected in spot gold and gold futures prices.
Impact of Geopolitical Tensions on Commodities: The recent developments in the Middle East have not only impacted oil but also gold and silver prices, driving them to new heights.
Oil Market Reactions to Geopolitical Events: Following an attack attributed to Iran and fresh US economic data, oil prices have shown mixed responses, with slight increases after initial losses.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change | Change% |
GOLD | 72,685.00 | 2.00 | 0.00% |
SILVER | 83,309.00 | 36.00 | 0.04% |
COPPER | 838.50 | 0.20 | 0.02% |
CRUDE OIL | 6,930.00 | -3.00 | -0.04% |
NATURAL GAS | 146.90 | 0.00 | 0.00% |
Note : Stats/Prices updated as on 19th April, 2024 at 08:52 AM
Source: Moneycontrol
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