Commodity Blog

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Metal Markets Demonstrate Divergence in Performance

December 26, 2014 at 23:17 by Vladimir Vyun

Metal markets behaved differently today. While precious metals demonstrated significant gains, most industrial metals ended the trading session with losses.

Gold and other precious metals rallied on speculations that China will take measures to boost economic growth. There were rumors that the People’s Bank of China eased reserve requirements for banks temporarily.

Surprisingly enough, this did not help copper. Usually, good news from China, the world’s biggest copper user, is supportive for the metal, but not this time. Rather, the industrial metals slid due to concerns that the Federal Reserve will tighten its monetary policy, making investors pull their capital away from riskier assets, including raw materials.

February futures for gold jumped 1.93 percent to settle at $1,196.10 per troy ounce on COMEX today. Silver surged as much as 2.78 percent to $16.15 per ounce. March contract for copper lost 1.25 percent to $2.8150 per pound.

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

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