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The commodities market today is driven by upcoming US inflation data and Libya supply concerns. On Wednesday, the 10-year yield remained steady at 3.839%, the dollar index rose to 100.99, the Brent crude dropped 1.13% to $78.65/barrel, while gold fell 0.8% to $2,505.03/ounce.
US 10-Year Treasury Yield Remain Steady: The US 10-year Treasury yield stayed nearly unchanged on Wednesday, rising by less than 1 basis point to 3.839%. Investors are waiting for key US inflation data due later this week.
US Dollar Rebounds on Month-End Buying: The US dollar bounced back on Wednesday, gaining 0.4% to 100.99, due to month-end buying after recent losses. Traders await economic data that could impact the Federal Reserve's easing plans.
Oil Prices Drop Over 1% Amid Libya Supply Concerns: US crude oil prices fell more than 1% on Wednesday, settling below $75 per barrel. The decline came as the market reversed earlier gains, driven by fears of supply disruptions in Libya. Brent crude dropped 1.13% to $78.65 per barrel.
Gold Prices Fall as Dollar Strengthens: Gold prices fell on Wednesday, pressured by a stronger US dollar. Spot gold declined by 0.8% to $2,505.03 per ounce.
The day’s rate of Gold, Silver, Natural Gas, Crude Oil (Brent), Crude Oil (WTI)
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹71,420.00 | -13.00 | -0.02 |
SILVER | ₹84,731.00 | -815.00 | -0.95 |
COPPER | ₹806.95 | -8.05 | -0.99 |
CRUDE OIL | ₹6,340.00 | -152.00 | -2.34 |
NATURAL GAS | ₹159.80 | -4.20 | -2.56 |
Note: Stats/Prices updated as of August 29, 2024, at 9:00 AM.
Source: Moneycontrol
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