top of page

Metals News August 01, 2024

1 thg 8, 2024

The dollar retreated Wednesday as the yen soared to a 4-1/2 month high against the dollar after the BOJ unexpectedly raised its benchmark interest rate.  The dollar was also under pressure from a sharp rally in stocks, which curbs liquidity demand for the dollar.  In addition, weaker-than-expected US economic news Wednesday on Jul ADP employment and the Q2 employment cost index knocked the 10-year T-note yield down to a 4-1/2 month low and undercut the dollar.  The dollar maintained its losses after Fed Chair Powell said a Fed rate cut "could be" on the table at the September FOMC meeting.


The September Silver Contract price continued its positive uptrend. The settlement price on July 31 was $28.938 per troy ounce, up 1.45% from the previous session.


The October Platinum Contract price extended its gains for the third consecutive session. The settlement price on July 31 was $986.4 per troy ounce, up 1.59% from the previous session.


The settlement price on July 31 was nearly $4.2 per pound, up 2.26% from the previous session.


Source: Collected from various sources

Related Posts

Copper prices also moved higher amid concerns that the metal could become the next target in the ongoing trade war.

Economic Highlights 13.02.2025: Fearing it could be the next product to face tariffs, copper prices surged.

13 tháng 2, 2025

Powell emphasized that the Fed is in no rush to ease monetary policy, citing a strong economy and a solid labor market.

Economic Highlights 12.02.2025: Markets Fluctuate Following Fed Chair's Speech

12 tháng 2, 2025

Global aluminum trade is also expected to adjust accordingly.

Economic Highlights 11.02.2025: Metal Markets Turbulent Amid Trump's New Tariffs

11 tháng 2, 2025

Related Post

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

bottom of page