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Commodities Market Today | Oil Hits Week High, USD Weakens

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Synopsis:

The commodities market today reacted to softer US labour data and strong demand signs from China and the US. Treasury yield at 4.45%, dollar index down to 105.28, Brent at $83.88/barrel (+0.4%), and spot gold up 1.14% to $2,335.04/ounce.

Top News and Events

  • Bond Market Yields Downshift: The bond market sees a decrease in 10-year Treasury yield at 4.45% and two-year yield at 4.81% amid Fed rate expectations.

  • Dollar Index Slides on Labour Data: The US dollar index weakens against major currencies to 105.28 on Thursday due to a softening labour market.

  • Oil Prices Reach One-Week Peak: Oil prices rise to a one-week high on positive demand signals from China and the US, with Brent 0.4% higher at $83.88 and US WTI rising 0.3% to reach $79.26 per barrel.

  • Gold Surges on Labour Data: Gold prices surge over 1% on Thursday, with spot gold hitting $2,335.04 per ounce and US gold futures settling at $2,340.3 per ounce, following new Labor Department data.

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

₹72,103.00

+464.00

+0.65

SILVER

₹84,977.00

+478.00

+0.57

COPPER

₹865.00

+5.15

+0.6

CRUDE OIL

₹6,664.00

+58.00

+0.88

NATURAL GAS

₹195.2

+4.1

+2.15

Additional Read: Share Market News

Note: Stats/Prices updated as of May 10, 2024, at 9:55 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.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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