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CME Group Micro Gold, Silver and Copper Products Update – April 2024
Gold price achieved 8.9% MoM growth to close March 2024 at $2,238.40/oz., the highest monthly price gain since July 2020. Despite hotter-than-expected NFP and sticky inflation rate that postponed Federal Reserve’s rate cut start date, the continuous building of managed money net positions alongside ongoing geopolitical risk events, these have supported gold price toward the upside. Similar to its yellow counterpart, silver prices managed to settle at $24.915/oz., up 8.9% MoM on the back of increased investor net long positioning. The increase in silver price lagged behind the increase in gold price, as reflected in ... (full story)