Commodities Market Today | Crude Oil Rebounds, Touches $76.15

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Synopsis:

The commodities market today responds to the US economic data ahead of the Memorial Day holiday. The 10-year yield fell to 4.467%, the dollar index fell to 104.74, US crude rebounded to $76.15, while spot gold rose to $2,332.77/ounce.

Top News and Events

Dollar's Resilience Amidst Slip: Despite a slip, the dollar remains poised for gains backed by strong US data, down 0.3% at 104.74 on Friday, supported by strong US economic data that dialled back expectations for interest rate cuts.

Steady US Treasury Yields: US Treasury yields are steady, with 10-year down slightly at 4.467%, and 2-year up to 4.948%, as investors weighed recent economic data releases.

Crude Oil's Rebound, Ending in Loss: Crude oil rebounds from three-month lows but ends the week in loss, with US crude hitting $76.15 and Brent at $80.65, as the summer driving season gets underway with the Memorial Day holiday.

Gold's Rise Amid Dollar Weakness: Gold rises slightly as the dollar weakens, set for the worst week in 5.5 months as hopes of interest rate cuts by the US central bank tamed. Spot gold went up 0.2% at $2,332.77 per ounce.

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

₹71,754.00

-803.00

-1.11

SILVER

₹89,690.00

-138.00

-0.15

COPPER

₹891.05

-8.35

-0.93

CRUDE OIL

₹6,398.00

-58.00

-0.90

NATURAL GAS

₹221.10

-15.40

-6.51

Note: Stats/Prices updated as of May 27, 2024, at 9:18 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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