Metals News August 26, 2024
26 thg 8, 2024
The USD saw a steep decline, with the US Dollar Index dropping 0.84% on Friday, reaching its lowest level in 13 months. In addition to the strength of the stock market, the dollar was also pressured by interest rate cuts following dovish comments from Fed Chair Powell, who stated, "The time has come for policy to adjust". Powell acknowledged that labor market conditions are undeniably cooling down, and inflation is on track to decrease to 2%.
September Silver Futures prices saw a significant increase. The settlement price on August 23 was $29.82 per troy ounce, up nearly 2.7% from the previous session.
October Platinum Futures prices also rose. The settlement price on August 23 was $966.1 per troy ounce, up 1.3% from the previous session.
September Copper Futures prices increased as well. The settlement price on August 23 was $4.201 per pound, up 1.28% from the previous session.
Source: Collected from various sources
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