Gold and silver were trading slightly below the opening level today. Copper was also hanging a bit below the opening. Platinum and palladium, on the other hand, demonstrated a radically different performance, with platinum rallying sharply and palladium posting huge losses. Overall, it looked like markets are entering a holiday mode, with trading becoming lighter and slower ahead of the Christmas and New Year holidays.
The week started poorly for gold and other safe assets as the United States and China achieved a
One of the most important factors affecting the yellow metal is the monetary policy of major central banks. The Federal Reserve and the European Central Bank confirmed their neutral stance last week, but there are several major banks left to make a policy decision this week. One of them is the Bank of England. Currently, the general consensus is that the BoE will leave its interest rates and the size of the
Futures for delivery of gold in February were little changed at $1,480.1 per troy ounce as of 20:46 GMT on COMEX today. March contract for silver was basically flat at $17.07 per ounce. March copper slipped 0.07% to $2.8115 per pound. At the same time, spot price for platinum jumped 0.73% to $935.07 per ounce, while palladium tanked 1.56% to $1,925.14 per ounce.
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