Commodities Market Today | Oil Dips to $79.26, Dollar Index Rises

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Synopsis:

The commodities market today responds to future inflation and interest rate anticipation. The 10-year yield slipped to 4.412%, the dollar index rose to 104.64, US crude fell to $79.26/barrel, while spot gold fell to $2,422.58/ounce.

Top News and Events

  • Treasury Yields Dip: US Treasury yields fell slightly on Tuesday as investors considered future inflation and interest rates. The 10-year Treasury yield dropped to 4.412%, while the 2-year yield was at 4.831%.
  • Dollar Gains Ground: The US dollar strengthened against the euro as Federal Reserve policymakers suggested waiting a few more months to confirm inflation's stability before adjusting interest rates. The dollar rose to 104.64 against other currencies.
  • Oil Prices Slide: Crude oil prices declined Tuesday due to a lack of significant market drivers. Both US and Brent crude traded within a $3 range this month, settling at $79.26 and $82.88 per barrel, respectively.
  • Gold Retreats: Gold prices retreated from record highs as the dollar remained steady. Spot gold fell to $2,422.58 per ounce.

Additional ReadCommodities 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

₹73,932.00

+916.00

+1.25

SILVER

₹92,749.00

+6493.00

+7.53

COPPER

₹933.80

+34.70

+3.86

CRUDE OIL

₹6,662.00

-22.00

-0.33

NATURAL GAS

₹229.70

+10.50

+4.79

Note: Stats/Prices updated as of May 22, 2024, at 9:16 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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