Commodities Market Today 26 April

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Synopsis:

Commodities market today showcases contrasting moves as gold prices rise at $2,331.78 per ounce (+0.69%) while US gold futures slightly decline to $2,319.90 per ounce (-0.2%). Brent crude prices rose by 1.1% at $89.01 per barrel and US WTI by 0.9% to $83.57, due to optimism in the US economy and ongoing Middle East tensions. Dollar index slips by 0.21% to 105.58 ahead of the US Federal Reserve FOMC meeting.

Top News and Events

  • Bond Yields Surge: US 10-year bond yield climbs 5 basis points to 4.704%, 2-year notes rise by 6.3 to 4.9996%, marking a five-month high. Inflation hints drive up Treasury yields, diminishing Fed rate cut chances.

  • Dollar Dips Ahead of Fed Meeting: Dollar index slips 0.21% to 105.58 ahead of the impending US Federal Reserve FOMC meeting.

  • Gold Prices Inch Higher: Gold sees a 0.69% increase to $2,331.78 per ounce, with US gold futures settling slightly lower at $2,319.90 per ounce, down 0.2%.

  • Optimism in the US Economy drives Crude Oil Up: Brent crude closes 1.1% higher at $89.01 per barrel, while US West Texas Intermediate rises 0.9% to $83.57. Optimism surrounding the US economy and ongoing Middle East tensions drive the uptick.

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

₹71,794.00

+94.00

+0.13

SILVER

₹80,755.00

+206.00

+0.26

COPPER

₹843.40

+3.40

+0.40

CRUDE OIL

₹6,898.00

-52.00

-0.75

NATURAL GAS

₹137.70

-13.40

-8.87

Note: Stats/Prices updated as on April 26, 2024 at 9:30 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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Frequently Asked Questions

What exactly are commodities?

Answer Field

Commodities are raw materials or primary agricultural products traded on dedicated exchanges. They can be categorised as hard commodities (e.g., gold, oil) or soft commodities (e.g., coffee, cotton).

How does commodities trading differ from stock trading?

Answer Field

While stock trading involves buying and selling shares of publicly traded companies, commodities trading deals with the exchange of physical goods or raw materials. Additionally, commodities are often subject to supply and demand dynamics rather than company performance.

Can I trade commodities without owning the physical assets?

Answer Field

Yes, through derivatives such as futures contracts and options, traders can speculate on commodity price movements without owning the physical assets, enabling participation in commodities markets with lower capital requirements.

What is leverage in commodities trading, and how does it work?

Answer Field

Leverage allows traders to control a larger position with a smaller amount of capital, amplifying both potential profits and losses. While leverage can magnify returns, it also increases risk, so it's crucial to use it judiciously.

What are some common trading strategies in commodities markets?

Answer Field

Popular strategies include trend following, range trading, spread trading, and fundamental analysis-based approaches. Each strategy has its own set of rules and techniques suited to different market conditions.

How can I manage risk when trading commodities?

Answer Field

Implement risk management techniques such as setting stop-loss orders, diversifying your portfolio, avoiding over-leveraging, and staying informed about market developments and news that may impact commodity prices.

What are the potential risks associated with commodities trading?

Answer Field

Risks include price volatility, leverage risk, liquidity risk, regulatory risk, geopolitical risk, and risks specific to individual commodities such as weather-related risks for agricultural commodities or geopolitical tensions for energy commodities.

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