Metals News August 06, 2024
6 thg 8, 2024
The dollar recovered from its worst levels Monday after the US Jul ISM services index rose more than expected. Also, Chicago Fed President Goolsbee's comments supported the dollar when he said US economic growth continues at a "fairly steady level."
The US Jul ISM services index rose +2.6 to 51.4, stronger than expectations of 51.0.
Chicago Fed President Goolsbee said last month's job numbers "came in weaker than expected but are not looking yet like a recession" as US economic growth continues at a "fairly steady level."
The September Silver Contract saw a steep decline. The settlement price on August 5 was $27.207 per troy ounce, down 4.17% from the previous week's close.
The October Platinum Contract continued to decline. The settlement price on August 5 was $915.5 per troy ounce, down 5.38% from the previous session.
The September Copper Contract also experienced a significant drop. The settlement price on August 5 was nearly $4 per pound, down 2.53% from the previous session.
Source: Collected from various sources
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