Commodities Market Today | Crude Hits Two-Month High with Third Weekly Gain

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Synopsis:

The commodities market today is driven by the US political uncertainty and inflation data. The 10-year yield rose to 4.392%, the dollar index dropped to 105.84. Brent rose to $87.22/barrel, while spot gold remained steady at $2,324.25/ounce.

Top News and Events

  • US Treasury Yields Rise Due to Political Uncertainty: US Treasury yields increased following political uncertainty from the US presidential debate and upcoming French legislative elections. The yield on the 10-year US Treasury note climbed 10.4 basis points to 4.392%.

  • Dollar Index Slightly Drops Post-Inflation Data: The US dollar fell slightly after the release of inflation data. The dollar index, which measures the greenback against a basket of currencies, dropped 0.05% to 105.84.

  • Crude Oil Sees Third Weekly Gain: US crude oil prices recorded their third consecutive weekly gain. The WTI reached an intraday high of $82.72 per barrel, the highest since April 30. Brent crude climbed to $87.22 per barrel, its highest level in two months.

  • Gold Prices Hold Steady After Inflation Report: Gold prices remained stable on Friday following a key US inflation report that met expectations. Spot gold remained steady at $2,324.25 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

₹71,563.00

+463.00

+0.65

SILVER

₹87,840.00

+875.00

+1.01

COPPER

₹839.30

-0.10

-0.01

CRUDE OIL

₹6,824.00

+66.00

+0.98

NATURAL GAS

₹224.20

-5.10

-2.22

Note: Stats/Prices updated as of July 1, 2024, at 9:12 AM.

Source: Moneycontrol

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