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Technical Analysis

Weekly Metals Report – January 20, 2025

Market Movements

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.


As of the weekly closing session on January 17, copper futures for March 2025 settled at $4.3685 per pound, up 1% from the previous week. Meanwhile, platinum futures for April 2025 dropped 3% to $965.5 per ounce, and silver futures for March 2025 fell 1% to $31.141 per ounce.


U.S. Economic Overview

The U.S. economy added 256,000 jobs in December 2024, significantly surpassing economists' forecasts, which had expected an increase of 155,000 jobs.


The unemployment rate declined to 4.1%, lower than the expected 4.2%.


The Producer Price Index (PPI) in the U.S. rose by 0.2% in December 2024, below economists' expectations of 0.4%. Meanwhile, core PPI, which excludes food and energy prices, remained unchanged.


The Consumer Price Index (CPI) for December 2024 showed core inflation rising 3.2% year-over-year, lower than both the previous month's increase and analysts' forecasts of 3.3%. Meanwhile, headline inflation rose 2.9% year-over-year, in line with expectations.


The U.S. 10-year Treasury yield climbed to its highest level since late 2023, while the U.S. dollar strengthened. Current projections indicate that the Federal Reserve (Fed) may only cut interest rates by 30 basis points in 2025, lower than the previous expectation of a 45 basis-point reduction before the release of the latest employment data.

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Trending News

Weekly Metals Report – February 3, 2025

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.

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.

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