Zinc Prices Lower to $2,500

Zinc prices slid to around $2,500 a tonne, easing from the four-month high touched on September 14th, amid globally subdued demand outlook after the hawkish rhetoric from the Fed.

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Copper on track for weekly loss due to strong dollar, high inventories

  • Copper rises after worst day since Aug. 1 on Thursday
  • Dollar on track for 10th straight weekly rise
  • Nickel up after hitting lowest price since July 2022

Copper prices were on track for a weekly loss on Friday due to a strong dollar, high inventories and reduced risk appetite after the U.S. Federal Reserve signalled monetary policy would remain restrictive for longer.

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Nat-Gas Prices Post Moderate Gains on a Jump in European Nat-Gas

October Nymex natural gas (NGV23) on Friday closed +0.027 (+1.03%). Nat-gas prices Friday posted moderate gains, garnering carryover support from a rally in European nat-gas prices to a 1-month high. Gains in nat-gas were limited by forecasts for warmer-than-normal fall temperatures that would reduce heating demand for nat gas. Forecaster Atmospheric G2 said the middle … Read more

Dead ends ahead for Silver

With the fundamental roadblocks adding up, silver confronts a bearishoutlook at nearly every turn.

With the FOMC’s hawked-up SEP and Powell’s inflation focus upending severalrisk assets, rising real interestrates continue to weaken silver’s bull thesis. And with the Fed chief promising more of the same on Sep. 20, higher interest rates and/or a recession are both bullish for the USD Index. Powell said:

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Gold (XAU/USD), Silver (XAG/USD) Technical Hurdles

Gold (XAU/USD), Silver (XAG/USD) Technical Hurdles: The US Fed meeting was the focus this week and the Fed certainly did not disappoint. An upgrade to the Fed projections saw the Central Bank send a hawkish message as it changed its forecast for rate cuts in 2024, 100bps priced in June down to 50bps at this week’s meeting. At the same time growth forecast were upgraded while the Fed also see the labor market remaining robust.

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