Metals News July 16, 2024
16 thg 7, 2024
Silver prices failed to maintain their upward momentum despite US CPI data coming in lower than market expectations, supporting the potential for interest rate cuts starting in September. The strengthening USD also exerted pressure on silver prices.
Weak economic conditions in China, the leading consumer of metals, raised concerns about demand. China's GDP for Q2 was 4.7%.
The September Silver Contract continued to decline, closing at $30.936/troy ounce on July 15, down 0.73% from the previous weekend.
The October Platinum Contract also continued to drop, closing at $1,011/troy ounce on July 15, down 0.23% from the previous session.
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