Commodities Market Today | Crude Under Pressure, Down 3% This Week

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Synopsis:

The commodities market today responds to the US business activity surge. The 10-year yield rose to 4.479%, the dollar index rose to 104.90, US crude dropped 3% for the week, while spot gold fell to $2,328.61/ounce.

Top News and Events

Dollar Rises on Strong US Business Activity: US business activity surge in May boosts the dollar against euro, closing at 104.90 on Thursday.

US Treasury Yields Surge on Economic Data: US Treasury yields climb as economic data beats expectations, with 10-year at 4.479% and 2-year at 4.935% on Thursday.

Crude Oil Prices Dip Ahead of Memorial Day: Crude oil prices drop ahead of Memorial Day weekend, with US crude down 3% and Brent falling 4% for the week.

Gold Falls Amidst Rate Cut Concerns: Gold hit a week low on Thursday, declining for the third time amidst concerns over US rate cuts and strong business activity, at $2,328.61 per ounce.

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

₹72,557.00

-1355.00

-1.83

SILVER

₹89,828.00

-2904.00

-3.13

COPPER

₹899.40

-18.30

-1.99

CRUDE OIL

₹6,456.00

-101.00

-1.54

NATURAL GAS

₹236.50

+13.80

+6.20

Additional Read: Crude Oil & Natural Gas

Note: Stats/Prices updated as of May 24, 2024, at 9:17 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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