Metals News August 29, 2024
29 thg 8, 2024
The USD Index rose by 0.54% on Wednesday, supported by the weakening of the yen after Bank of Japan Deputy Governor Himino made dovish comments, causing the yen to depreciate. Additionally, the U.S. stock market's decline in Wednesday's session increased liquidity demand for the USD, partly due to pressure from Nvidia's stock drop ahead of the chipmaker's financial report release. Furthermore, the USD is rising on speculation that investors are buying the USD to rebalance their portfolios at the end of the month.
The December Silver Futures price dropped sharply. The settlement price on August 28 was 29.628 USD/troy ounce, down 2.62% from the previous session.
The October Platinum Futures price continued its steep decline. The settlement price on August 28 was 937.3 USD/troy ounce, down 2.65% from the previous session.
The October Copper Futures price also dropped sharply. The settlement price on August 28 was 4.173 USD/pound, down 2% from the previous session.
Source: Collected from various sources
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