top of page
Banner.png

Technical Analysis

Weekly Metals Report – February 3, 2025

Market Movements

Last week, the base metals and precious metals markets showed mixed performances. By the close of trading on January 31, COMEX copper futures for March 2025 fell 0.7%, recording a 1% decline for the week, as concerns over U.S. tariffs potentially impacting global economic growth weighed on copper demand.


Silver futures for April 2025 also declined by 0.7% in the final session, but still posted a 3.5% gain for the week. In contrast, platinum maintained strong performance, rising 1.6% in the final session and gaining over 7% compared to the previous week.


Metal Price Trends

Key Highlights

The Federal Reserve (Fed) kept interest rates unchanged at 4.25%-4.5% during its January 29 meeting. Previously, the Fed had implemented three consecutive rate cuts since September 2024, totaling a 1 percentage point reduction.


In December 2024, the Personal Consumption Expenditures (PCE) price index rose 2.6% year-over-year, higher than the increase in November. Meanwhile, core PCE recorded a 2.8% rise.


The U.S. Dollar Index (DXY) surged, stabilizing around 109.5, while the 10-year U.S. Treasury yield remained at 4.5%.


A market frenzy over DeepSeek, an AI startup, resulted in $600 billion in market capitalization losses for Nvidia, the world’s leading AI chipmaker, in a single trading session.


The AI race is heating up: Following the DeepSeek event, Alibaba unexpectedly launched its next-generation AI model, Qwen 2.5-Max, on the first day of the Lunar New Year, followed by OpenAI’s series of new updates to ChatGPT.


On February 1, U.S. President Donald Trump signed an executive order imposing tariffs:


  • 25% on goods from Mexico and Canada

  • 10% on imports from China

  • 10% on Canadian energy imports, aiming to avoid major impacts on gasoline and heating oil prices.


Full report available at:



Trending News

Weekly Metals Report – January 20, 2025

The metals market experienced low trading activity and mixed performances among different metals last week. Platinum and silver prices declined, while copper prices saw a slight uptick compared to the previous week.

PGIM 2025 Outlook More Risk Less Reward

According to the Chinese zodiac1 , 2024 was the Year of the Dragon. The Dragon is considered to be the most powerful and auspicious animal, symbolizing, among other things, prosperity. Financial markets aligned with these expectations, as risk assets performed strongly, with stocks reaching several new record highs over the course of the year.

Rubber Price Forecast for 2024

According to experts, the supply of rubber in 2024-2025 may continue to face shortages, with a global shortfall of around 600,000-800,000 tons annually, as demand grows faster than supply.

bottom of page