Metals News September 11, 2024
11 thg 9, 2024
The Dollar Index slightly increased by 0.08% on Tuesday, supported by reduced speculation of a 50 basis point rate cut by the Fed. The SWAP market is pricing in a 34% probability of a 50 basis point rate cut at next week's FOMC meeting, down from 50% following last Friday's U.S. employment report. Additionally, the rise of the dollar is capped by lower liquidity demand due to the strong surge in stocks.
The December Silver Futures price slightly declined. The settlement price on September 10 was 28.614 USD/troy ounce, down 0.13% compared to the previous session.
The October Platinum Futures price slightly decreased. The settlement price on September 10 was 944.3 USD/troy ounce, down 0.27% compared to the previous session.
The October Copper Futures price dropped. The settlement price on September 10 was 4.056 USD/pound, down 1.1% compared to the previous session.
Source: Compiled
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According to data from the Mercantile Exchange Of VietNam (MXV), at the close of trading yesterday (January 8), the red trend completely dominated the raw material commodity price board. There were 22 out of 31 commodities being traded globally that simultaneously decreased in price, pulling the MXV-Index down by 1.37% to 2,089 points. The trading value reached nearly 4,500 billion VND.
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Data from the Vietnam Commodity Exchange (MXV) shows that by the close of the last trading day (January 5) of the first week of the new year, selling pressure dominated the commodity market.
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The Ministry of Industry and Trade has instructed strict monitoring of the minimum fuel supply levels for 2024 set for fuel traders to prevent shortages and disruptions under all circumstances.
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