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CME Group Micro Gold, Silver and Copper Products Update – May 2024
Gold prices hit an all-time high of $2,448.80/oz. on April 12, 2024, on the back of hotter-than-expected NFP, sticky inflation and rising geopolitical risk. These factors attracted inflow of funds as shown by increasing managed money long positions to around two-year high. Despite the pullback towards the end of the month as profit-taking and U.S. dollar strength took effect, Gold prices managed to settle at $2,302.90/oz., up 2.9% MoM, heading into the next Fed’s meeting and NFP in May. Riding on the price momentum of its yellow counterpart, Silver prices also reached its three-year high of almost $30/oz. on April ... (full story)
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- Posted: May 15, 2024 10:25pm
- Submitted by:Category: Metals Industry NewsComments: 0 / Views: 430
