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The commodities market today is driven by US Fed rate cut hopes and weak dollar index. On Friday, the 10-year yield fell to 3.8%, the dollar index fell to 100.56, the WTI crude rose 2.6% to $74.91/barrel, while gold rallied 1.2% to $2,546.40/ounce.
US Bond Yields Drop: The US two-year yield decreased by 10.3 basis points to 3.91%, while the 10-year rate fell by 6.7 basis points to 3.8%.
Dollar Index Hits 13-Month Low, Yen Strengthens: The dollar index fell to a 13-month low of 100.56, marking a 3.57% drop over the past four weeks and a 3.46% decline in the last 12 months. Meanwhile, the Japanese yen gained 0.51% to 143.64, its strongest level since the August 5 Nikkei sell-off.
Oil Prices Surge on Supply Concerns: West Texas Intermediate crude rose by 2.6% to $74.91 per barrel on Friday, with Brent crude reaching $79.53 per barrel.
Precious Metals Rally: Gold prices increased by 1.2% to $2,546.40 per ounce, while silver surged 2.8% to $29.85 per ounce.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹71,096.00 | -283.00 | -0.40 |
SILVER | ₹84,230.00 | -531.00 | -0.63 |
COPPER | ₹800.00 | -3.10 | -0.39 |
CRUDE OIL | ₹6,130.00 | +94.00 | +1.56 |
NATURAL GAS | ₹172.40 | -10.30 | -5.64 |
Note: Stats/Prices updated as of August 26, 2024, at 9:17 AM.
Source: Moneycontrol
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