The commodity registered its first negative month of the year, amidst stagflation fears, while OPEC+ maintained its output hike plan
Past Performance: Past Performance is not an indicator of future results.
COMEX Copper is widely considered as one of the key cyclical commodities, given its extensive usage in construction, infrastructure and an array of equipment manufacturing. The biggest end-use is for the production of cables, wiring and electrical goods because of its excellent electricity-conducting properties. The construction sector is the second largest user of copper, for plumbing, HVAC and building wiring applications. Although found in abundance and widely extracted as well as recycled, the copper value chain is quite capital intensive. This makes the market susceptible to supply-side constraints, and therefore, volatile price fluctuations.
The commodity registered its first negative month of the year, amidst stagflation fears, while OPEC+ maintained its output hike plan
Oil bid as OPEC and OPEC+ set to meet over the next two days.
Real yields exert pressure on the pressure metal. As the Fed hiking cycle continues, this pressure may keep up in the near-to-medium term if the correlation holds.
The commodity keeps its gains as the group of seven advanced economies is mulling a limit on the price of oil imports from Russia, while Libya warns of potential export…
XAU/USD opened higher today, as the G7 economies are expected to sanction imports of Russian gold, based on the US President’s comments over the weekend
The gold price retested its bearish continuation pattern following its breakdown.
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