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Today's commodities market demonstrates contrasting moves as US 10-year treasury yields dropped by 1.9 basis points to 4.605%, Dollar Index eases slightly at 105.48 levels, gold continues its decline to reach $2,321.57 per ounce, and brent crude prices inflate by 1.63% to reach $88.42 per barrel.
US business activity data pressurise Treasury Yields: Treasury yields decreased as recent data revealed a slowdown in U.S. business activity, hitting a four-month low. Specifically, the yield on the key U.S. 10-year notes dropped by 1.9 basis points to 4.605% from its previous level of 4.623% recorded late on Monday.
Dollar Index settles slightly below the recent highs: Yesterday, the dollar index closed at 105.48, slightly easing from its recent peak. However, it is still well-supported. Investors believe the Federal Reserve won't cut interest rates soon, buoyed by rising Treasury yields reaching their highest levels since November.
Yellow metal continues decline: Gold prices continued to decline, with spot gold dropping by 0.2% to $2,321.57 per ounce, while U.S. gold futures settled 0.2% lower at $2,342.10.
Oil prices inflate as all eyes remain on Middle East tensions: Brent crude futures increased by 1.63% to reach $88.42 per barrel, while U.S. crude settled up by 1.78% at $83.36. Investors kept a close eye on the Middle East, causing oil prices to climb.
Additional Read: Commodities Market Today
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change | Change% |
GOLD | ₹71,106.00 | 77.00 | 0.11 |
SILVER | ₹6,950.00 | +119.00 | +1.74 |
COPPER | ₹79,659.00 | -1935.00 | -2.37 |
CRUDE OIL | ₹151.10 | +1.70 | +1.14 |
NATURAL GAS | ₹837.50 | -15.50 | -1.82 |
Additional Read: Share Market News
Note: Stats/Prices updated as on April 24, 2024 at 9:38 AM
Source: Moneycontrol
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