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The commodities market today is driven by US economic growth and inflation data. On Thursday, the 10-year yield rose to 3.869%, the dollar index increased to 101.35, the Brent October contract rose 1.64% to $79.94/barrel, while gold increased 0.91% to $2,525.12/ounce.
US Treasury Yield Rises Ahead of Inflation Report: The US 10-year Treasury yield increased by nearly 3 basis points to 3.869% on Thursday as investors awaited Friday's key inflation report.
US Dollar Gains on Strong Q2 Growth Data: The US dollar rose for the second day on Thursday, gaining 0.3% to 101.35 after data showed the economy grew faster than expected in Q2, reducing chances of a 50 basis-point rate cut by the Fed next month.
Oil Prices Surge on Libyan Supply Disruption: US crude oil futures climbed nearly 2% on Thursday, rebounding from a two-day slide as Libya confirmed major disruptions in oil output. Brent's October contract rose $1.29, or 1.64%, to $79.94 per barrel.
Gold Prices Rise on Fed Rate Cut Hopes: Gold prices gained on Thursday, fueled by expectations of a Federal Reserve rate cut in September. Investors are now watching US inflation data for clues on the potential cut's size. Spot gold increased 0.91% to $2,525.12 per ounce.
The day’s rate of Gold, Silver, Copper, Crude Oil and Natural Gas
Name | LTP | Change (₹) | Change (%) |
GOLD | ₹71,703.00 | +283.00 | +0.40 |
SILVER | ₹84,989.00 | +258.00 | +0.30 |
COPPER | ₹804.35 | -2.60 | -0.32 |
CRUDE OIL | ₹6,257.00 | -83.00 | -1.31 |
NATURAL GAS | ₹176.10 | +16.30 | +10.20 |
Note: Stats/Prices updated as of August 30, 2024, at 9:01 AM.
Source: Moneycontrol
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