Commodities Market Today | Brent Rises, US Crude Falls 0.3%

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Synopsis:

The commodities market today is driven by retail sales data and Israeli movement in Gaza. The 10-year yield fell to 4.215%, the dollar index dropped to 104.90. Brent crude contracts rose to $85.15/barrel, while spot gold rose 0.1% to $2,331.17/ounce.

Top News and Events

  • Dollar Weakens Due to Soft Retail Sales: The dollar index fell to 104.90 on Wednesday after weak US retail sales data increased expectations of Federal Reserve rate cuts.

  • Treasury Yields Drop on Weak Retail Sales: The 10-year US Treasury yield dropped over 6 basis points to 4.215% after weak May retail sales raised economic concerns.

  • Oil Prices Mixed Amid Israeli Movement in Gaza: Brent crude rose to $85.15 a barrel on Thursday as Israeli tanks moved into Gaza. US crude dipped 0.3% to $81.30 per barrel due to expected higher oil inventories.

  • Gold Prices Rise on Rate Cut Hopes: Spot gold increased 0.1% to $2,331.17 per ounce on Wednesday following weak US retail sales data, which boosted expectations of Federal Reserve rate cuts.

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

₹71,527.00

+498.00

+0.70

SILVER

₹88,144.00

+735.00

+0.84

COPPER

₹850.85

+8.35

+0.99

CRUDE OIL

₹6,810.00

+99.00

+1.48

NATURAL GAS

₹242.80

+9.90

+4.25

Note: Stats/Prices updated as of June 20, 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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