The yellow metal recorded stability with some highs in the middle of the trading session today, Monday, the 13th of September (September), the opening session of the week and before the opening of the American markets, as gold rises by about 0.13% and is trading at levels of 1789 dollars per ounce, while silver is trading down by about 0.50%, trading at levels of 23.60 dollars per ounce in conjunction with the continuous rises of the US dollar since the beginning of the session.
The general index of the US dollar, which measures the performance of the dollar against a basket of currencies (DollarIndex) since the beginning of the opening session, is rising by about 0.15% and is trading at 92.75 levels.
In the absence of economic indicators affecting market movements at the opening session of the week today, Monday, the markets are awaiting inflation data from the US economy, which will be released tomorrow, Tuesday, as the markets will monitor the reaction of the US Federal Reserve at its meeting held at the end of this September, and whether it is on its opinion that it is temporary or that it will worry the Fed.
The US continues to rise. On the other hand, aluminum is trading at its highest level in 13 years since July of 2008, trading at levels of $2,970,000 per ton, an increase of about 4% at the opening session of the week, approaching the $3,000 level, with supply fears rising.
Aluminum has risen since the beginning of September by about 15% due to the recovery in demand in China with the decline in China’s production of the metal in light of the trend towards reducing carbon emissions, in addition to political strikes from Guinea, the second largest producer of bauxite (the natural ore from which most of the aluminum mineral is made) in the world, which is experiencing conditions Difficult after the military leaders carried out a coup against the authority early last week.
According to figures issued by the International Aluminum Institute, global aluminum production reached 5.747 .
million tons in July, up from 5.557 million tons in June.
On the other hand, platinum is trading at $952 levels, down by 0.35%, while palladium is trading at 0.20% at $2.143 thousand.
06/11/2024
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