Metals News July 18, 2024
18 thg 7, 2024
The weak reaction in silver prices suggests traders may be more cautious about the economic outlook and monetary policy decisions.
Northam Platinum increased production by more than 10% in the year to June. Last week, the Minerals Council of South Africa warned that South Africa's mining output in the second quarter was likely to be lower due to restrictions.
September Silver contract price turned down sharply. The settlement price on July 17 was 30.377 USD/troy ounce, down 3.44% from the previous session.
October Platinum contract price decreased. The settlement price on July 17 was 1,008.1 USD/troy ounce, down 0.34% compared to the previous session.
The September Copper ontract price decreased for 3 consecutive sessions, the settlement price on July 17 was 4.41 USD/pound, down 0.92% compared to the previous trading session.
Source: Collected from various source
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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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