Precious Metals and Base Metals Market Update(July 25-27,2024).


Precious Metals Overview

Thursday, July 25, 2024:
Spot Gold:Increased by 0.7%, reaching $2,425.28 per ounce.
US Gold Futures:Rose by 0.8%, settling at $2,526.60 per ounce.
Silver:Gained 0.5%, trading at $29.36 per ounce.
Platinum:Up by 1.8%, priced at $959.88 per ounce.
Palladium:Added 1.7%, reaching $941.50 per ounce.

Friday, July 26, 2024:
Spot Gold:Fell by 1.2%, closing at $2,369.29 per ounce.
US Gold Futures:Dropped by 1.9%, ending at $2,368.80 per ounce.
Silver:Declined by 4.8%, to $27.60 per ounce.
Platinum:Decreased by 1.5%, trading at $933.68 per ounce.
Palladium:Slipped by 2.9%, settling at $905.32 per ounce.

Saturday, July 27, 2024:
Spot Gold:Slightly increased to $2,372.25 per ounce by 09:28 GMT.

Base Metals Overview

Thursday, July 25, 2024:
Three-Month Copper (LME):Rose by 0.3%, reaching $9,412 per tonne.

Friday, July 26, 2024:
Three-Month Copper (LME):Fell by 1%, closing at $9,011.55 per tonne.
Lead:Remained stable at $2,043 per tonne.
Zinc:Decreased by 6%, trading at $2,643 per tonne.
Tin:Slipped by 2.6%, ending at $29,015 per tonne.
Nickel:Lowered by 0.2%, reaching $15,800 per tonne.
Aluminium:Declined by 0.8%, priced at $2,282 per tonne.

Saturday, July 27, 2024:
Three-Month Copper (LME):Rose by 0.2%, trading at $9,142 per tonne by 10:28 GMT.

Summary

     The precious metals market experienced volatility over the weekend. Initially, prices rose across the board on Thursday, but the trend reversed on Friday, with notable declines in gold, silver, platinum, and palladium. However, by Saturday, spot gold showed a modest recovery, and copper prices saw a slight uptick.

     In the base metals sector, copper saw a small gain on Thursday, but significant declines on Friday across several metals, including zinc and tin. Copper's price on Saturday saw a modest increase, though still lower than its Thursday level.

     This fluctuation in prices reflects ongoing market adjustments and investor sentiment shifts in the metals sector.

Comments

Post a Comment

Popular posts from this blog

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. Satu...
Read more

Precious Metals and Base Metals Market Update (July 30,2024-August3,2024).

Tuesday, July 30, 2024: Three-Month Copper : The London Metal Exchange (LME) reported a 0.7% decline in three-month copper prices, which fell to $9,045 per tonne by 11:06 GMT. Wednesday, July 31, 2024: Spot Gold : The price of spot gold increased by 0.3%, reaching $2,391.14 per ounce. US Gold Futures : Gold futures saw a 0.4% increase, climbing to $2,387.89 per ounce. The rise in futures suggests positive sentiment about gold's future performance. Silver : Silver prices were up 0.1%, reaching $27.90 per ounce. Platinum : The price of platinum increased by 0.3%, reaching $950.98 per ounce. Palladium : Palladium prices remained stable at $903.75 per ounce, suggesting a balanced supply and demand scenario or investor caution. Friday, August 2, 2024 : Spot Gold : The spot price of gold fell by 0.7% to $2,432.29 per ounce. US Gold Futures : Gold futures firmed 0.1% to $2,476.10 per ounce. Three-Month Copper : Copper prices on the LME slipped by 1.1%, reaching $9,...
Read more