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Commodities Market Today | Oil Dips 0.3% on Interest Rate Prospects

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Synopsis:

The commodities market today is driven by retail sales data and Israeli movement in Gaza. The 10-year yield rose to 4.257%, the dollar index rose to 105.64. Brent crude contracts rose to $85.60/barrel, while spot gold rose 1.33% to $2,358.26/ounce.

Top News and Events

  • Bond Yields Slightly Increase: The 10-year government bond yields saw a marginal rise late Friday compared to the previous week, closing 0.1 basis points higher at 4.255%.
  • Dollar Index Edges Up: The dollar index, which measures the dollar against a basket of major currencies, rose by 0.17% to 105.81.
  • Stronger Dollar Pushes Oil Prices Down: A stronger dollar contributed to lower oil prices. The US crude settled down 0.69% at $80.73 a barrel, and Brent crude decreased by 0.55% to $85.24 per barrel. Despite this daily decline, both benchmarks ended the week with a 3% increase due to overall positive market trends.
  • Minimal Change in Gold Prices: Gold prices held steady on Friday, with spot gold down a slight 0.06% to $2,323.46 per ounce. This minimal movement indicates a stable market environment for yellow metal.

Prices of Popular Commodities

The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)

Name

LTP

Change

Change%

GOLD

₹72,442.00

+635.00

+0.88

SILVER

₹90,237.00

+327.00

+0.36

COPPER

₹851.70

-6.50

-0.76

CRUDE OIL

₹6,790.00

-20.00

-0.29

NATURAL GAS

₹228.90

-13.90

-5.72

Note: Stats/Prices updated as of June 24, 2024, at 9:09 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.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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