Metals News October 1, 2024
1 thg 10, 2024
The U.S. Dollar Index increased by 0.45% on Monday, recovering from overnight losses and rising moderately due to hawkish comments from Federal Reserve Governor Bowman. These comments diminished the likelihood of a 50 basis point rate cut at the November FOMC meeting, as she stated that core inflation remains "uncomfortably" above the Fed’s 2% target. Additionally, the U.S. Chicago PMI for September unexpectedly rose by 0.5 to 46.6, stronger than the forecasted decline of 0.1 to 46. The Dallas Fed’s September manufacturing outlook survey also unexpectedly climbed by 0.7 to a 20-month high, surpassing expectations for a drop to 10.8.
The December Silver Futures prices fell. The settlement price on September 30 was $31.458 per troy ounce, down 1.13% from the previous week's session.
At the close of September 30, the November Platinum Futures prices settled at $984.3 per troy ounce, a sharp drop from the previous week's session.
The December Copper Futures continued their downward trend. The settlement price on September 30 was $4.553 per pound, down 1.01% from the previous week's session.
Source: Compiled
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