The Latest Breaking News from Comex

Commodity prices turned mixed results in October even though bearish price action in the bond market and the pushed interest rates higher and bullish action in the dollar index tends to weigh on raw material prices.

While platinum declined, gold, silver, palladium, and rhodium prices increased in the third quarter. Gold and silver prices moved significantly higher over the first nine months of 2024, while platinum and palladium declined. Rhodium bucked the trend in the PGMs, moving higher from the end of 2023 through the end…

Energy prices (sans natural gas) fell, while most other commodity prices rose in September as interest rates and the U.S. dollar declined.

Silver traded at its highest price since late 2012 in May 2024 when the precious metal reached $32.50 per ounce. Silver has corrected below the $30 level, but it could be a matter of time before the metal heads for higher highs.

Copper prices reached a new record high in May 2024, eclipsing the March 2022 high before correcting lower. Meanwhile, copper futures have dropped more than $1 per pound since the May high as the leading base metal is searching for a bottom.

Gold rose to a new record high in Q2 2024 and in early Q3. The precious metal looks set to make even higher highs during the second half of this year. Gold is the world’s oldest currency, and as inflation erodes fiat foreign exchange instruments and the international financial system…

The base metals sector of the commodities market moved higher in Q2 2024 and was higher than the 2023 closing level at the end of June. LME zinc led on the upside, while tin posted double-digit percentage gains. Copper moved to a new all-time high during Q2, while all the…

The precious metals sector of the commodities market moved higher in Q2 2024 and was higher than the 2023 closing level at the end of June. Silver led on the upside, while platinum and gold posted impressive gains. Gold moved to a new all-time high during Q2, while silver broke…

Market prices often gravitate around significant levels. Since technical resistance in silver had been around the $30 per ounce level before the recent rally, that price could become a considerable pivot point as the technical resistance has become more of a support level in June 2024.

Nearby copper futures rose to nearly $5.20 per pound on May 20, a new record high. The red nonferrous metal ran out of upside steam, declining below the $4.80 level, leaving many market participants wondering if the spike higher was the end of the nearly two-decade-long bull market.

Gold reached a new high in April 2024, and silver rose to nearly $30 per ounce, the highest price since early 2021. Meanwhile, platinum and palladium prices remain under pressure, lagging their precious cousins in 2024.