Commodities Market Today | Oil Dips 0.32% on Mixed Fed Signals

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Synopsis:

The commodities market today responds to interest rate and inflation news. The 10-year yield fell to 4.42%, the dollar index rose 0.15%, US crude settled at $79.80/barrel, down 0.32%, and spot gold rose 0.4% to $2,424.69/ounce.

Top News and Events

  • Treasury Yields Slightly Rise Amid Fed Uncertainty: US Treasury yields rose slightly as Fed officials hinted at rate cut uncertainty. The 10-year notes fell 7/32, pushing the yield to 4.4453% from 4.42%.

  • Dollar Edges Up Ahead of Interest Rate News: The dollar edged up as investors awaited interest rate news. The dollar index rose 0.15%, while the euro slipped 0.11% to $1.0858.

  • Crude Prices Steady Despite Mixed Fed Signals: Crude prices held steady despite mixed Fed signals and easing inflation concerns. US crude settled at $79.80, down 0.32%, and Brent at $83.71, down 0.32%.

  • Gold Hits New Highs on Inflation News: Gold hit new highs on inflation news, and silver reached a decade high. Spot gold rose 0.4% to $2,424.69 per ounce.

  • Copper Reaches Record High on China Property Stabilization: Copper hit a record high after China's efforts to stabilise its property market, rising 2.97% to $10,985 per tonne.

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

₹73,853.00

+837.00

+1.15

SILVER

₹92,475.00

+6219.00

+7.21

COPPER

₹967.00

+67.90

+7.55

CRUDE OIL

₹6,662.00

-22.00

-0.33

NATURAL GAS

₹229.70

+10.50

+4.79

Note: Stats/Prices updated as of May 21, 2024, at 2:01 PM.

Source: Moneycontrol, EconomicTimes

Additional Read: Share Market News

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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