Copper weaker in the early hours
After rising for four consecutive trading weeks, copper prices are weaker this week due to thin trade. At 6:05 AM EST on October 4, the COMEX copper futures contract for December delivery was trading at $2.18 per pound—a fall of ~0.78%. The stronger dollar is weighing on copper prices in the early hours on October.
Copper is weaker
China’s market is closed this week due to “Golden Week” from October 1 to 7. As a result, copper trading volumes are thin. The sentiment in copper has been strong due to better-than-expected economic data from China. The strong data improved the sentiment in the market. Also, China’s better property market improved demand signals and supported the prices. In the early hours on October 4, prices are weaker due to a stronger dollar and low volumes. The dollar strengthened due to upbeat ISM manufacturing data. The data rose to 51.5 in September from 49.4 in August. The stronger dollar weighs on dollar-denominated commodities such as copper, gold, and silver.
Gold and silver are weaker
Gold and silver are weaker in the early morning hours on October 4 due to the stronger dollar. At 6:20 AM EST, the COMEX gold futures contract for December delivery was trading at $1,310.60 per ounce—a fall of ~0.16%. The COMEX silver contract for December delivery was trading at $18.81 per ounce—a fall of ~0.32%. Recently, strong US economic data such as US consumer sentiment data and ISM manufacturing data strengthened the US dollar and weighed on gold prices. Gold fell to two-week low price levels.
Read more - https://www.goldcruderesearch.com/comex.php
After rising for four consecutive trading weeks, copper prices are weaker this week due to thin trade. At 6:05 AM EST on October 4, the COMEX copper futures contract for December delivery was trading at $2.18 per pound—a fall of ~0.78%. The stronger dollar is weighing on copper prices in the early hours on October.Copper is weaker
China’s market is closed this week due to “Golden Week” from October 1 to 7. As a result, copper trading volumes are thin. The sentiment in copper has been strong due to better-than-expected economic data from China. The strong data improved the sentiment in the market. Also, China’s better property market improved demand signals and supported the prices. In the early hours on October 4, prices are weaker due to a stronger dollar and low volumes. The dollar strengthened due to upbeat ISM manufacturing data. The data rose to 51.5 in September from 49.4 in August. The stronger dollar weighs on dollar-denominated commodities such as copper, gold, and silver.
Gold and silver are weaker
Gold and silver are weaker in the early morning hours on October 4 due to the stronger dollar. At 6:20 AM EST, the COMEX gold futures contract for December delivery was trading at $1,310.60 per ounce—a fall of ~0.16%. The COMEX silver contract for December delivery was trading at $18.81 per ounce—a fall of ~0.32%. Recently, strong US economic data such as US consumer sentiment data and ISM manufacturing data strengthened the US dollar and weighed on gold prices. Gold fell to two-week low price levels.
Read more - https://www.goldcruderesearch.com/comex.php
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