Commodities Market Today | Oil Dips on Demand and Inventory Shift

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Synopsis:

The commodities market today witnessed some changes in investor sentiments. The 10-year yield remained steady at 4.25%, the dollar index rose to 105.63. Brent futures fell to $85.01/barrel, while spot gold declined 0.6% to $2,330.60/ounce.

Top News and Events

  • Bond Yields Increase: The US two-year yield increased by 1.1 basis points to 4.75%, while the 10-year rate remained nearly unchanged at 4.25%.

  • Dollar Index Rose Slightly: The dollar index rose slightly to 105.63 against a basket of currencies.

  • Crude Oil Prices Fall: Brent futures for August fell by $1 to $85.01 per barrel, while US crude futures dropped by 80 cents to settle at $80.83 per barrel.

  • Precious Metals Dip: Gold decreased by 0.6% to $2,330.60 per troy ounce, while silver fell by 2.1% to $28.90 per ounce. This drop was driven by investors' shifting preferences towards other assets.

Prices of Popular Commodities

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

Name

LTP

Change

Change%

GOLD

₹71,580.00

+128.00

+0.18

SILVER

₹88,438.00

-153.00

-0.17

COPPER

₹849.70

+0.20

+0.02

CRUDE OIL

₹6,817.00

+69.00

+1.02

NATURAL GAS

₹234.80

+8.70

+3.85

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Note: Stats/Prices updated as of June 26, 2024, at 9:21 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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