Amidst mixed global economic data, base metals are experiencing a decline, while gold prices are on the rise. Over the span of three months, copper has fallen by 0.4% to $8,601 per metric ton, and aluminum has seen an 0.8% decrease, reaching $2,234 per ton. On the other hand, gold has shown a 0.3% increase, reaching $1,985.50 per troy ounce. The decrease in copper prices is attributed to weakening economic indicators from China, particularly a decline in home sales. Ed Meir, the president of Commodity Research Group, notes that this decline is a contrast to the high levels seen in July. Furthermore, the recent U.S. debt rating downgrade by Fitch is contributing to a negative sentiment in the industrial metals market.
Conversely, ANZ suggests that gold prices are likely to remain within a certain range in the short term, largely due to the anticipation of another interest rate hike by the Federal Reserve in September.
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.