COPPER: futures rose above $3.50 per pound on Friday on technical buying, but were still set to snap a two-week rally after facing pressure throughout the week from mounting fears of a global economic slowdown and heightened US-China tensions over Taiwan.
Investors are bracing for a key US jobs report due on Friday following a slew of hawkish remarks from Federal Reserve officials indicating that the central bank would do what it takes to bring down inflation even at the risk of a recession.
Heightened geopolitical tensions in the Asian region also kept markets on edge, with China reportedly firing a barrage of ballistic missiles into the waters around Taiwan as part of its large-scale military exercises following US House Speaker Nancy Pelosi’s visit to the island.
Meanwhile, major copper producers have recently reported declining output and supply risks due to various disruptions, providing support to copper prices
Gold Prices held above $1,900 an ounce on Tuesday, hovering close to its strongest levels since April last year as easing US inflation and related expectations […]
With a current power shortfall touching 5500MW in the country, Pakistan struggles to find a sustainable fuel solution for its power production amid the rising […]
Dollar to Pak Rupee forecast on Monday, April, 18: exchange rate 181.36 Rupees, maximum 184.08, minimum 178.64. USD to PKR forecast on Tuesday, April, 19: […]
Gold Prices rose back above $1,800 an ounce on Tuesday as the dollar slipped on an improving risk sentiment, though trading volume is expected to remain […]
