Metals News July 30, 2024
30 thg 7, 2024
The Dollar Index rose on Monday, reaching its highest level in 2 weeks, as the Canadian dollar and the British pound fell to their lowest levels in 8 and a half months and 3 and a half weeks, respectively, against the US dollar.
Additionally, short covering ahead of the FOMC meeting also boosted the US dollar's rise.
September Silver Futures prices reversed their trend and fell in the early week session. The settlement price on July 29 was $27.866 per troy ounce, down 0.55% from the previous week's session.
October Platinum Futures prices increased in the early week session. The settlement price on July 29 was $957.6 per troy ounce, up 1.4% from the previous week's session.
September Copper Futures prices continued to decline in the early week session. The settlement price on July 29 was more than $4.08 per pound, down 0.96% from the previous week's session.
Source: Barchart
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U.S. consumer confidence in August surged to its highest level in six months, driven by optimism about the economic outlook.
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Copper prices on Tuesday rose to an almost six-week high, supported by fresh investor demand and market optimism over the potential for imminent U.S. interest rate cuts.
Copper prices near six-week high as one strategist says the ‘worst of the correction is over’
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The Dollar Index fell by 0.30%, dropping to 100.55 points. In contrast, the British pound reached its highest level against the U.S. dollar in over two years.
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