0R15 8884.0068 1.4156% 0R1E 9171.0 0.0% 0M69 None None% 0R2V 255.5 0.0% 0QYR 1619.0 0.0% 0QYP 434.5 0.0% 0RUK None None% 0RYA 1606.0 4.9673% 0RIH 195.2 1.3763% 0RIH 195.2 0.0% 0R1O 225.5 9900.0% 0R1O None None% 0QFP None None% 0M2Z 255.0 0.2457% 0VSO 33.3 -6.4738% 0R1I None None% 0QZI 604.0 0.0% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 246.8 2.9706%

Global Commodity Technical Analysis Report

Decline in Commodities Market Rally, One Commodity Expected to Hold Support Level – Silver

Aug 06, 2024

Silver
Investment Type
Commodity
Risk Level
Action
Rec. Price (US$)

Global Commodity Market Wrap-Up

Last week, the metals market experienced a pronounced bearish trend. Gold showed some resilience with a modest gain of 1.78%, while silver also saw an increase of 1.33%. However, base metals generally fell, with copper down by 0.75% and zinc decreasing by 0.87%. Lead, on the other hand, experienced a more significant drop of 2.70%. This varied performance contrasts sharply with the stability observed in the previous week, reflecting a shift towards a bearish sentiment.

Last week, Natural Gas prices saw a notable downturn, marking a significant loss of -4.40%. This decline reflects a shift in market sentiment, possibly influenced by adjustments in supply dynamics or seasonal demand factors. In contrast, Crude Oil prices also decreased significantly by -4.49%, indicating evolving market confidence. Additionally, US Sugar experienced a notable decline of -2.30%, contributing to negative momentum in agricultural commodities.

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