Gold, Silver prices boosted by dollar’s decline
Metals prices are on pace to end the month higher!
As recent gains sparked by steeper declines in the U.S. dollar. and easing of inflation
Tweet on metal futures contract rise
Latest on the performance of the most-actively traded metals futures contracts:
Gold is poised for its best month since May ‘21, up 6.7%
Silver is on track for its best month since December ‘20, up 12%
Copper is on pace to wrap up its best month since April 2021,up 7.4% via @WSJ— The_Journalbiz (@the_journalbiz) November 25, 2022
WSJ reports on latest from the metal future contracts
Most commodities are priced in dollars, which means a falling dollar makes it cheaper for foreign buyers to invest in raw materials, boosting demand. The WSJ Dollar Index, which measures the greenback against a basket of other currencies, is down 4.7% so far this month.
Here’s more on the performance of the most-actively traded metals futures contracts:
- Gold is poised for its best month since May 2021, up 6.7%.
- Silver is on track for its best month since December 2020, up 12%.
- Copper is on pace to wrap up its best month since April 2021, up 7.4%.
Meanwhile, aluminum traded on the London Metal Exchange has added 6.6%, on track for the largest monthly percentage gain since February.
