The yellow metal has been trading since the beginning of the week yesterday, Monday, within a narrow range between the levels of 1550 – 1560 dollars per ounce, despite its rise in the middle of the trading session today, Tuesday, and before the opening of the US markets by 0.40% and trading at levels of 1761 dollars per ounce, benefiting from the stability of the general index of the US dollar, which is trading at levels 94.30 and some declines in the US bond yields, as the yield on US Treasury bonds for the ten years fell below 1.60 levels.
The metal and gold markets, in particular, are awaiting the US inflation data that will be released tomorrow, Wednesday.
Gold had tested its highest level in three weeks at the end of last week’s trading session on Friday when it tested levels of $1,780 an ounce after the US labor market data.
On the other hand, silver is trading at levels of $22.59 per ounce, up by 0.16%, as silver is exiting the 22.40-22.80 ring since the markets opened yesterday.
On the other hand, aluminum continues to trade at its highest levels since July 2008, in the middle of today’s trading session at $3,066 per ton on the London Metal Exchange, up by about 3.64%, taking advantage of the global energy crisis that is causing a reduction in supplies of the metal, which is considered energy-intensive.
Where the production of a ton of aluminum consumes about 14 megawatt hours of energy. On the other hand, platinum is trading at an increase of about 0.07% at levels of $1.009, while palladium is up by about 0.28% and trading at levels of $2.118.
06/11/2024
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