Metals News July 15, 2024
15 thg 7, 2024
Silver Prices Fall Due to Profit-Taking by Speculators. However, silver prices may rise further due to expectations of a broader supply shortage in 2024, marking the fifth consecutive year of deficit.
India's silver imports surged in the first four months of 2024, surpassing the total imports for the entire year of 2023, reaching 4,172 tons.
September Silver Futures prices fell, with the settlement price on July 12 at $31.162 per troy ounce, down 1.61% from the previous session.
October Platinum Futures prices reversed and fell, with the settlement price on July 12 at $1,013.3 per troy ounce, down 0.11% from the previous session.
September Copper Futures prices rose, with the settlement price on July 12 at $4.59 per pound, up 1.92% from the previous session.
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The overwhelming selling pressure dragged the MXV-Index down by an additional 0.59% to 2,102 points, extending the losing streak to three consecutive sessions. By the close of the market, nearly the entire price board for metals and agricultural products was covered in red.
The metal and agricultural markets are ablaze, causing the MXV-Index to continue its decline.
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