Commodity Superfast: Crude oil, Gold and silver fell sharply, know why the commodity is under pressure today?

Today the commodity market is under pressure. Gold-silver, metals, crude oil are trading in all red marks. Crude oil is down about 1%. Weakness of more than Rs 200 in gold. The price of silver has broken more than Rs 500 and crude oil has come down to Rs 8,350. There is a sharp fall in crude oil today. Brent $111 and WTI crude slipped below $108. There is a weakness of about 2% in crude. Worries about declining demand from China dominate prices. On MCX, gold is trading below 51,200 and silver is trading near 62,000. Today the mood of the commodity market has deteriorated as the rupee is at a record low. The rupee depreciated sharply against the dollar.

Updated on: May 09, 2022, 06.04 PM IST
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