Copper prices rebounded slightly on Wednesday from the previous session, but the metal remained under pressure due to recent losses because of a stronger US dollar and hawkish Federal Reserve signals weighed on industrial metals. The weakness underscores how monetary policy and currency strength are combining with fragile demand to keep copper vulnerable. At the
Platinum price is on track to record its sixth consecutive week of losses amid macroeconomic headwinds. Despite the structurally tight market, a hawkish Federal Reserve and stronger US dollarare weighing on the precious and industrial metal. Platinum price reverses gains amid macroeconomic pressures Early in the year, platinum price rallied to an all-time high as
Copper price edged lower earlier on Monday before recouping some of those losses. At the time of writing, Comex futures were trading at $6.37 a pound after hitting an intraday low of $6.27. At its current level, the bulls are striving for a rebound back within the months-long bullish channel. On the one hand, the
Brent crude oil price continued its strong downward trend today, June 23, reaching its lowest level since March 2nd as investors focused on the ongoing US-Iran talks. It has now slumped by over 35% from its highest point this year, and this trend may continue as supply jumps. Crude oil supply to surge as demand
Gold’s latest retreat says more about the dollar than about fear. Bullion slipped on Tuesday as traders moved back into the greenback, betting that the Federal Reserve may still have to raise interest rates this year to contain sticky inflation. A calmer tone around US-Iran talks reduced some haven demand, while a rebound in oil
Silver’s selloff is becoming harder to dismiss as a routine pullback. The metal dropped towards $63 an ounce after a brief attempt to steady, hit by the same forces pressing on gold: a stronger dollar, rising US rate expectations and fading demand for crisis hedges as traders assessed progress in US-Iran talks. The chart is
ING Economics warns that the global aluminium market will remain in deficit this year despite easing Middle East tensions, with supply losses of around 3 million tonnes unlikely to be restored quickly. ING’s Commodities Strategist Ewa Manthey said in a recent report that fundamentals remain supportive for prices, even as geopolitical risks fade. The signing
Deutsche Bank has slashed its gold price forecasts by up to 22%, citing resilient US economic data, hawkish Federal Reserve signals, and weak investment demand. The bank now sees bullion at $4,300 per ounce in the third quarter of this year and $4,800 in the fourth quarter, down sharply from earlier projections. At the time
Venezuela is attracting renewed interest from global oil majors after sweeping reforms opened its energy sector, but rebuilding its corroded infrastructure will require more than $100 billion and at least a decade, OilPrice.com reported. Chevron, ExxonMobil, Repsol, and Eni are expanding or negotiating new ventures, betting on the country’s vast reserves despite lingering risks. Venezuela’s
Oil prices fell on Monday as signs of progress in US-Iran talks cooled fears of a Hormuz supply disruption. The Strait of Hormuz was still the market’s biggest fault line, but a fresh round of US-Iran diplomacy gave crude sellers enough reason to press WTI back towards the mid-$70s. West Texas Intermediate futures fell about