Metals News September 9, 2024
9 thg 9, 2024
The U.S. Dollar Index on Friday recovered from its lowest level in a week and finished up 0.1%. A report on September 6 from the U.S. Bureau of Labor Statistics showed that the non-farm sector added 142,000 jobs in August, weaker than the expected 165,000 jobs, and the July figure was revised down to 89,000 jobs. The actual figures for both months fell short of expectations. Silver prices on Friday were negatively affected after the Eurozone's Q2 GDP was revised lower, dropping to 0.2% quarter-on-quarter from the previously reported 0.3%.
The December Silver Futures Price fell. The settlement price on September 6 was $28.183 per troy ounce, down 3.15% compared to the previous session.
The October Platinum Futures Price declined. The settlement price on September 6 was $918.7 per troy ounce, down 1.25% compared to the previous session.
The October Copper Futures Price dropped. The settlement price on September 6 was $4.032 per pound, down 1.51% compared to the previous session.
Source: Compiled
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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.
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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
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