Gold Holds $2,300/oz; Crude Oil Prices Gain As The US Dollar Index Declines Below 106 | CNBC TV18
[Music]
back with us here on power breakfast and
as promised Manisha Gupta now joins in
with all the cues from the commodity
space good morning Manisha what are you
picking up this morning well after those
couple of days where we have seen sharp
declines in many of these Commodities
well today seems to get there and be
looking at some coming back here majorly
because the dollar Index is now trading
below 106 and that is giving some
support to markets also what the street
will now watch out for is the first
quarter GDP numbers from us and the pce
index which is the personal consumption
expenditure price index data that comes
in from us as well and this is fed’s
preferred inflation guard so markets
would try to understand on what the
number is and what it can mean for the
interest rate Cuts going forward ahead
of that we’ve seen the gold prices gain
up above $2,300 an ounce yet again crude
oil prices also are seeing some support
because of the dollar Decline and
because uh the markets are looking at
the European business activity expanding
at the fastest Pace in an year it also
has to do with the kind of sanctions
that Iran oil companies could see that’s
a developing story and uh as in when you
see more concrete statements coming in
for that would impact food oil tries
also in the meanwhile Bas metal tries
have gone in for some profit taking so
we did see copper prices at a two-year
highs and aluminum at a 15mth Highs but
overnight it has been a one to 3% of a
cut coming for cross metal
prices keep an eye out on all these
commodity cues as well well thanks a lot
Manisha for joining in but onto
Gold prices hold $2,300/oz; crude oil prices gain as the US dollar index declines below 106. Manisha Gupta with more details.
#gold #goldprice #goldprices #crudeoil #crudeoilprices #crudeoilprice #usdollar #dollarindex #commodityprice #commodities #commoditymarket #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
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