Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities

Archives

Metal Market Keeps Performing Well

March 20, 2015 at 13:19 by Vladimir Vyun

Metals, both industrial and precious, extended their previous rally today. While gold’s gains were mild, copper demonstrated an impressive rally.

Metals rallied after traders perceived the Wednesday’s policy statement from the Federal Reserve to be less hawkish as they have hoped for. The resulting weakness of the dollar led to higher prices for commodities priced in the US currency.

The metal market got an additional support from positive European macroeconomic data. It improved the market sentiment and allowed the euro gain on the dollar, adding even more strength to the dollar-priced assets.

April futures for gold ticked up 0.19 percent to $1,171.20 per troy ounce as of 13:16 GMT on COMEX today. May contract for copper added 1 percent to $2.6865 per pound.

If you have any questions and comments on the commodities today, use the form below to reply.

Leave a Reply

required
required  

Navigation

Menu