Commodities Market Today | Brent Declines 0.4%, WTI Unchanged

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Synopsis:

The commodities market today is influenced by the shift in investor sentiments. The 10-year yield rose to 4.33%, the dollar index rose to 106.05. Brent futures fell 0.4% to $84.17/barrel, while spot gold declined 0.9% to $2,309/ounce.

Top News and Events

  • Rising Bond Yields: The US 10-year yield increased by 8.9 basis points to 4.33%, while the two-year rate rose by six basis points to 4.75%. This rise reflects market adjustments and investor expectations for future interest rate hikes.

  • Dollar Shows Strength: The dollar index remained stable at 106.05, hovering near a two-month high. This strength is due to positive economic data and expectations of sustained interest rates.

  • Mixed Oil Prices: US WTI crude was almost unchanged, rising by 0.1% to $80.91 per barrel. In contrast, Brent futures fell by 30 cents, or 0.4%, to $84.17 per barrel.

  • Declining Precious Metals: Gold dropped by 0.9% to $2,309 per troy ounce, and silver decreased by 0.4% to $28.76 per ounce. These declines are attributed to a stronger dollar and rising bond yields.

Prices of Popular Commodities

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

Name

LTP

Change

Change%

GOLD

₹71,077.00

-503.00

-0.70

SILVER

₹86,646.00

-1792.00

-2.03

COPPER

₹838.80

-10.90

-1.28

CRUDE OIL

₹6,743.00

-74.00

-1.09

NATURAL GAS

₹229.90

-4.90

-2.09

Note: Stats/Prices updated as of June 27, 2024, at 9:10 AM.

Source: Moneycontrol

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