0R15 8520.0 -2.3383% 0R1E 8203.0 -0.4731% 0M69 21090.0 67.5139% 0R2V 227.04 9923.8411% 0QYR None None% 0QYP 411.37 -3.2071% 0RUK 2652.0 -9.2402% 0RYA 1520.0 -2.8754% 0RIH 174.55 -1.3563% 0RIH 164.85 -5.5571% 0R1O 200.44 9897.0075% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 164.23 1.7817%

Global Commodity Technical Analysis Report

Decline in Commodity Market Last Week, One Commodity Expected to Hold Support Level – Copper

Nov 18, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market faced a broad downturn, with both precious and base metals experiencing declines. Gold, after reaching recent highs, lost momentum and fell by 4.63%, while silver saw an even steeper drop of 3.23%. Base metals also struggled, with copper slipping 4.69%, lead declining 3.23%, and zinc seeing a modest dip of 0.31%. This shift from the previous week’s relative stability suggests a change in market sentiment, as investor outlooks evolve, and varying demand dynamics impact different metal sectors.

Last week, natural gas prices surged by 5.77%, fueled by supply constraints and seasonal demand factors. Meanwhile, crude oil prices declined by 4.77%, weighed down by persistent market uncertainty and shifting investor sentiment. In the agricultural sector, U.S. sugar prices bucked the broader bearish trend, falling by 1.13%, while other agricultural commodities faced downward pressure. This divergence across the energy and agricultural markets reflects varying supply and demand pressures, with investors adjusting to changing global conditions and economic uncertainty, signaling a cautious but dynamic market environment.

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