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CME Group Micro Gold, Silver and Copper Products Update – September 2024
For the second month in a row, COMEX active month gold price reached another all-time high of $2,550.60/oz. on August 20, 2024. Cooler than expected CPI and PPI, coupled with the Fed’s announcement that they are ready to begin the rate cut as early as September, helped the gold price to eventually gain 2.2% MoM. Managed money net positions have reached 200K contracts, the highest since January 2020. Silver prices settled August 2024 largely unchanged MoM at $29.145/oz. The rally in the gold price lended some support to the silver prices, but the poor industrial demand outlook acted in the opposite direction. Copper ... (full story)
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- Posted: Sep 9, 2024 1:17am
- Submitted by:Category: Metals Industry NewsComments: 0 / Views: 212
