Gold prices rallied on Monday as a weaker dollar helped gold recover some of its recent losses as easing fears of a 100 basis point rate hike by the US Federal Reserve also provided support. Gold for August delivery gained 0.4% to settle at $1,710.20 an ounce. September silver gained 1.3% to close at $18.84 […]
Tag: Metals – Copper
At a 20-month low, copper ‘touched’ up to -5%
Copper prices fell to their lowest level in nearly 20 months on Wednesday, as growing worries about an economic recession roiled the industrial metals market, weighing on demand. In particular, the copper on the London Metal Exchange fell as much as 4.9% to $7,291.50 a tonne, the lowest level since Nov. 25, 2020. It then […]
Gold: Down for 4th day in a row, losses of more than 2% on the month
Gold moved into the red for a fourth straight session on Thursday, extending losses of more than 2% on a monthly basis, according to FactSet data. “A strong dollar and interest rate hike concerns continue to weigh on the precious metal, with gold unable to benefit from continued investor aversion to risk-on positions,” Fawad Razaqzada, […]
Copper is below $ 9,000 a tonne for the first time since October
Copper has fallen below $ 9,000 a tonne for the first time since October, while other metals are falling amid growing concerns about weakening global demand. As often seen as a barometer for the global economy, copper has fallen from a record high in March as investment focus shifts from limited supply concerns to lower […]