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 the Mercantile Exchange Of VietNam (MXV), as of the end of the first trading day of 2024, selling pressure dominated the global raw material commodity market. The MXV-Index fell by 0.78% to 2,111 points, marking the third consecutive session of decline.
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Market analysts and some traders forecast that off-season rice production from the world's two leading rice-exporting countries, India and Thailand, will decrease in Q1 2024 due to drought conditions.
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Data from the Mercantile Exchange Of VietNam (MXV) shows that, closing the last trading week of 2023 (December 25 - 31), raw material prices moved relatively mixed.
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