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The commodities market today features how gold surged 1% to a record $2,656.38 amid Middle East tensions and potential US rate cuts. Oil prices also climbed, driven by Chinese stimulus and geopolitical risks, with WTI and Brent closing higher at $71.56 and $74.50 respectively.
Gold rose 1% and hit a record high on Tuesday, building on its recent rally as Middle East tensions fed its safe-haven appeal, while investors latched on to fresh cues for more U.S. interest rate cuts. Spot gold was up 1.1% to $2,656.38 per ounce.
Oil prices settled higher Tuesday, underpinned by additional monetary stimulus from China boosting hopes for global oil demand and the risk of escalating conflict in the Middle East disrupting supplies. The fall in the dollar also supported Crude prices.
West Texas Intermediate crude futures rose 1.7% to settle at $71.56 a barrel, while Brent oil futures rose 1.8% to $74.50 a barrel.
The day’s rate of Gold, Silver, Copper, Crude Oil and Natural Gas
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹75,049.00 | 46.00 | 0.06 |
SILVER | ₹92,560.00 | 167.00 | 0.18 |
COPPER | ₹824.55 | 1.05 | 0.13 |
CRUDE OIL | ₹5,985.00 | 87.00 | 1.48 |
NATURAL GAS | ₹214.10 | 0.20 | 0.09 |
Note: Stats/Prices updated as of September 25, 2024, at 9:00 AM.
Source: Moneycontrol
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