Metals News August 12, 2024
12 thg 8, 2024
The U.S. Dollar Index dropped slightly by 0.07% last Friday due to expectations of more significant rate cuts from the Federal Reserve.
The strength of the stock market on Friday reduced the demand for metals as a safe haven. Silver prices were also impacted by concerns over a slowdown in China's metal industry after LME copper inventories rose to a nearly 5-year high.
The September Silver Contract price fell slightly. The settlement price on August 9 was 27.588 USD/troy ounce, down 0.07% from the previous session.
The October Platinum Contract price declined sharply. The settlement price on August 9 was 929.9 USD/troy ounce, down 1.06% from the previous session.
The September Copper Contract price increased. The settlement price on August 9 was 3.993 USD/pound, up 0.86% from the previous session.
Source: Collected from various resources
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