Metals
Metals
Platinum Hits 2-Week Low
Platinum futures fell below $1,740 an ounce, hitting a two-week low as rising global bond yields and a stronger US dollar weighed across the precious metals complex. The escalating conflict between the US and Iran continued to push oil prices higher, fueling concerns that persistent inflation could prompt the Federal Reserve to raise interest rates […]
by Currency Hedger
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- 1 month ago
Metals
Nickel Falls to Over 1-Month Low
Nickel traded around $16,600 per tonne, reaching its lowest level since early July, as ample near-term supply weighed on prices. Indonesia imported 11.4 million tonnes of nickel ore from the Philippines in January-July, up from 6.82 million tonnes a year earlier, indicating continued feedstock availability for Indonesian smelters despite tighter mining quotas. Additionally, MHP supply […]
by Currency Hedger
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- 1 month ago
Metals
Copper Falls on Demand Concerns
Copper fell toward $6.4 per pound on Wednesday, hitting its lowest level in a month as rising oil prices and global bond yields kept inflationary risks and interest rate concerns in focus, weighing on the demand outlook. Oil prices advanced for a third consecutive session amid escalating hostilities between the US and Iran, complicating efforts […]
by Currency Hedger
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- 1 month ago
Metals, Technical Analysis
Gold Drops 1.5% – Are Precious Metals Heading Lower Again?
The rise in oil prices is putting pressure on the precious metals market today, with gold down nearly 1.5% and silver falling close to 2.5%. The move comes alongside higher bond yields and growing expectations for faster interest-rate hikes in the U.S. Volatility may increase this afternoon when the U.S. JOLTS and ISM Manufacturing data […]
by Currency Hedger
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- 1 month ago
Metals, Technical Analysis
XAG/USD looks for direction above key support at $65.50 area
Silver (XAG/USD) remains practically flat on Tuesday, holding most of Friday’s losses and trading at $66.60 at the time of writing, with price action contained within the previous day’s range. The broader bullish trend from late July lows remains in play, but failure to breach Monday’s high, at $67.47, might increase pressure on a key support […]
by Currency Hedger
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- 1 month ago
Metals
Copper Rises on Tighter Supply
Copper futures rose above $6.6 per pound on Tuesday, extending gains for a second consecutive session amid ongoing supply-side constraints. Data showed that copper output in top producer Chile fell 9.4% in July from a year earlier, highlighting tightening conditions in global markets. Mining disruptions in Chile, as well as in major producers Indonesia and […]
by Currency Hedger
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- 1 month ago
Metals
Palladium Extends Losses
Palladium futures fell to around $1,350 per ounce, extending losses for a second session after hitting three-month highs, as a stronger dollar and higher US Treasury yields weighed on the metal following hawkish signals from Federal Reserve Chair Kevin Warsh. Palladium also faced pressure from increased expectations of a September rate hike, with markets awaiting […]
by Currency Hedger
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- 1 month ago
Metals
Zinc Climbs to Over 4-Year High
Zinc prices rose above $3,950 a ton, hitting their highest level since April 2022, amid tightening supply conditions. The metal posted a fifth consecutive monthly gain in August and is up 27% so far this year, outperforming other major base metals. Supply concerns have been fueled by disruptions at several mines, including in China, while […]
by Currency Hedger
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- 1 month ago
Metals
Gold Pressured by Fed Rate Hike Bets
Gold traded below $4,450 an ounce on Tuesday, hovering near two-week lows as rising oil prices and hawkish remarks from Federal Reserve Chair Kevin Warsh strengthened expectations for a US rate hike this month. Oil prices advanced for a second straight session after US forces struck an island in the Strait of Hormuz, while Iran […]
by Currency Hedger
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- 1 month ago
Metals
Steel Hits 2-½-Month Highs
Steel rebar futures jumped above CNY 3,140 per ton, reaching their highest levels since mid-June as investors anticipated a recovery in demand due to seasonal factors ahead of the September peak construction season. Construction activity in top consumer China typically picks up ahead of winter, strengthening the outlook for demand for steel and raw materials. […]
by Currency Hedger
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- 1 month ago