Market Analysis Report: Precious Metals and Base Metals Performance (16/07/2024-20/07/2024).


Tuesday, 16/07/2024
A.Spot Gold: Rose by 0.4% to $2421 per ounce.
B.US Gold Futures: Increased by 0.2% to $2426.
C.Benchmark Copper (LME): Traded down at $9832 per tonne.

Wednesday, 17/07/2024
A.Spot Gold: Gained 0.7% to $2439.99 per ounce.
B.Silver: Decreased by 0.5% to $30.87.
C.Platinum: Maintained stability at $994.70.
D Palladium: Declined by 0.7% to $943.97.

Thursday, 18/07/2024
A.Spot Gold: Increased by 0.2% to $2473.89 per ounce.
B.US Gold Futures: Rose by 0.4% to $2478.50.
C.Platinum: Surged by 2.1% to $1021.20.
D.Palladium: Also added 2.1% to reach $979.48.
E.Three Months Copper (LME): Up by 0.6% at $9791 per tonne.

Friday, 19/07/2024
A.Spot Gold: Up 0.3% at $2464 per ounce.
B.US Gold Futures: Increased by 0.3% to $2468.20.
C.Three Months Copper (LME): Decreased by 1.6% to $9480 per tonne.
D.Aluminium: Reached $2387, the highest since April 3.
E.Tin: Declined sharply by 3.6% to $31750.
F.Zinc: Lost 1.5% to $2806.
G.Nickel: Remained flat at $16450.

Saturday, 20/07/2024
A.Spot Gold: Decreased by 1.8% to $2401.49 per ounce by 1422 GMT.
B.Three Months Copper (LME): Slipped to $9343 per tonne.

 Summary and Analysis:
Throughout the week of 16/07/2024 to 20/07/2024, the precious metals market experienced notable fluctuations:
Gold: Showed volatility with gains early in the week but declining towards the weekend.
Silver, Platinum, Palladium: Mixed performance, with platinum and palladium seeing significant gains on Thursday.
Base Metals (Copper, Aluminium, Tin, Zinc, Nickel): Copper saw fluctuations but ended lower by the week's end. Aluminium reached a high not seen since April, while tin experienced a significant drop.
     This report provides a comprehensive overview of the week's performance across key metals, reflecting the dynamic nature of global commodity markets.

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