Commodities

Precious metal traded with strong gains after markets slide in the session

Gold price factors

The precious metals markets are found trading in a firmer note this morning after the weakness of broad-based last week are up by an average of 0.9%, which is led by a 1.3% rise in palladium prices, while gold prices are up the least with a 0.6% increase to $1,323.56 per ounce.

Precious metals prices on the London Metal Exchange are found buying interest in the session, with all of the base metals, showing gains by 1% with lead being the only exception. The three-month copper price spearheaded the way into positive positions with 1.8% rally to be sold at $6,870 per metric ton.

On the Shanghai Futures Exchange, the base metals started the lacking direction. Aluminum prices are up by 1% and tin prices are down by 1.3% Lead and Nickel have little to no change and zinc prices are off by 0.7% while copper prices are being sold at 51,760 yuan per ton. While  spot copper prices in Chang Jiang are down by 0.2%.

Other metals in China, like iron ore are down by 0.9% being sold at 523 yuan per ton while steel rebar are trading up by 0.2% while gold prices remain unchanged and silver prices are down by 0.1%

The climb in prices are up mostly due to investors going for safe haven funds as the U.S. equities took a plunge last week.

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