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Tag Archives: copper

Copper Retreats From Two-Week High As Investors Doubtful Over Chinese Demand

Copper futures are hitting the pause button after reaching their best levels in two weeks. Despite Chinese economic figures coming in better than expected, they were not enough to support the idea that there would be enough demand for the industrial metal. Still, copper prices are up more than 2% on the year and traders will take that after kicking off the year down 10%. October copper futures tumbled $0.01, or 0.35%, to $2.70 per pound at 17:25 GMT on Tuesday on the Comex division of the New...

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Copper Surges on Renewed US-China Trade Talks, Capped by Weak Manufacturing

Copper futures are rallying midweek as the world’s two largest economies have restarted important trade negotiations. After two months of sitting on the sidelines, both sides have returned to the table to iron out a trade agreement that could finally end the dispute and create some certainty in the global economy. But the industrial metal’s ascent was capped on concerns over weak manufacturing trends in China....

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Gold Slumps on NFP, India’s Import Duty

Gold slumped today after the release of US nonfarm payrolls. Most other metals joined the decline, with the exception of palladium. US employers added 224,000 jobs in June versus the consensus forecast of 162,000. The report made the US dollar surge and speculators trim bets on interest rate cuts from the Federal Reserve. The CME FedWatch page was showing that markets no longer price in a 50 basis point cut this...

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Copper Slips on Falling Demand, Inventory Build

Copper futures are slipping toward the end of the trading week, driven by weak demand and a buildup in inventories. But renewed US-China trade negotiations have capped losses, leading investors to hope that a new trade deal could stimulate the world’s two largest economies, which would increase demand for the industrial metal. August copper futures dipped $0.005, or 0.23%, to $2.67 per pound at 17:51 GMT...

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Gold & Other Metals Rally on Prospects of Monetary Easing

Gold rose and other metals joined the rally today. The key reason for the rally were two nominations from US President Donald Trump for the vacant seats on the Federal Reserve Board. The  nominees are Christopher Waller, the executive vice president at the Federal Reserve Bank of St. Louis, and Judy Shelton, an economic adviser to the president during his 2016 campaign. It is expected that they will have...

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Metals Recover After Monday’s Slump

Gold and other metals were recovering after yesterday’s slump today. While the United States and China agreed not escalate the trade conflict further, may market participants are somewhat skeptical about chances of successful resolution of the disagreement between the countries. US President Donald Trump stoked concerns, saying that the trade deal with Beijing “has to be a deal that is somewhat tilted to our...

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Commodity Markets Act Confused Ahead of G20 Summit

Markets looked confused today, failing to find a clear trend. Crude oil was swinging between gains and losses. Most precious metals demonstrated losses, but palladium posted a sharp rally. Copper was falling initially but now is bouncing. The reason for such erratic behavior was the lack of clarity about the outcome of the Group of Twenty summit, specifically trade talks between the United States and China. On one...

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Metals Under Pressure as Dollar Firms

Metals were under pressure today as the US dollar firmed after comments of Federal Reserve officials. Not all metals logged losses, though, as platinum was flat and palladium managed to etch some gains. Comments from Fed members revealed that US policy makers were not as dovish as was previously thought and they are not planning to ease monetary policy aggressively. Metals, especially gold, tend to move opposite to interest rates,...

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Gold Continues to Rise amid Mix of Positive Factors

Gold continued to rise today as fundamentals remained supportive for the metal. The dovishness of the Federal Reserve continued to affect markets, hurting the dollar and bolstering gold. The escalation of conflict between the United States and Iran was fueling demand for bullion as a safe haven. But the commodity has a potential threat in the form of upcoming G20 meeting,...

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Copper Sinks After Strong Week Supported by Renewed Trade Talks, Rate Cut Hopes

Copper futures are trading lower on Friday after a strong weekly performance supported by renewed US-China trade negotiations and lingering supply disruptions at one of the world’s largest mines. Copper further benefited from heightened expectations that the Federal Reserve will cut interest rates sometime this year. The industrial metal is on track to record its best week in three months. July copper futures tumbled $0.01,...

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