Precious Metals Market Report(Week of July 10-14,2024).


Wednesday, July 10, 2024:
A:Spot Gold: Increased by 0.1% to $2360.7 per ounce.
B:US Gold Futures: Rose by 0.2%.
C:Spot Silver: Rose by 0.4% to $30.91 per ounce.
D:Platinum: Decreased by 0.5% to $991.9 per ounce.
E:Palladium: Decreased by 0.5% to $1003.75 per ounce.
F:Benchmark Copper: Increased by 0.1% to $9927 per tonne.

Thursday, July 11, 2024:
A:Spot Gold: Further rose by 0.4% to $2372.83 per ounce.
B:US Gold Futures: Increased by 0.5% to $2379.20 per ounce.

Friday, July 12, 2024:
A:Spot Gold: Marked a significant increase of 1.5% to $2406.99 per ounce.
B:US Gold Futures: Rose by 1.4% to $2412.60 per ounce.
C:Silver: Increased by 2.7% to $31.63 per ounce.
D:Platinum: Rose by 1.9% to $1008.35 per ounce.
E:Palladium: Decreased slightly to $1002.54 per ounce.

Sunday, July 14, 2024:
A:Gold Performance Last Week (Prior to July 14): Increased by 0.8% to $2411 per ounce.
B:Silver Performance Last Week: Dropped by 1.3% to $30.8 per ounce.

Analysis and Summary:

The week of July 10-14, 2024, witnessed varied movements across the precious metals market. Gold exhibited notable gains throughout the week, starting with modest increases on Wednesday and Thursday, followed by a substantial surge on Friday. By the end of the week, spot gold closed at $2406.99 per ounce, reflecting a weekly increase of 0.8% to $2411 per ounce.

Silver, on the other hand, showed mixed performance, with a slight increase on Wednesday but a more significant drop by the end of the week. From $30.91 per ounce on Wednesday, silver rose to $31.63 per ounce by Friday, marking a 2.7% increase. Platinum and palladium also experienced fluctuations, with platinum rising consistently through the week to close at $1008.35 per ounce, while palladium saw minor decreases.

In summary, the precious metals market during this week was characterized by strong performance in gold, driven by market sentiment and economic factors influencing safe-haven assets. Silver showed volatility with initial gains followed by a decline. The prices of platinum and palladium reflected mixed investor sentiment and market dynamics influencing industrial activities.





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