Gold saw a 1.77% increase to close at 71,375, fuelled by increasing hope for a September rate cut in the US. However, the market’s expectations have cooled, tempering expectations for rapid easing by the Federal Reserve due to recent strong economic statistics. are inclined to agree to a rate decrease next month. The gold market…
Due to a large volume of warehouse supplies authorized by the London Metal Exchange (LME), copper prices closed yesterday at 847.85, slightly lower by -0.24%. The Shanghai Futures Exchange is tracking inventories, and while they decreased last week, they are still high at 322,910 tonnes, indicating persistent supply issues. On the other hand, imports from…
Disruptions in mine-side operations were the main driver of copper’s slight rise, which saw it settle up 0.42% at 715.4. Significantly, smelters’ desperate attempts to find raw materials have resulted in a drop in copper prices in China, which might threaten the margins of Chinese companies and possibly lower their output of refined copper. Surprising…
