AAPL 250.9362 1.1636% MSFT 439.85 0.5624% NVDA 132.26 2.5987% GOOGL 190.36 1.0403% GOOG 191.585 0.7547% AMZN 224.7026 1.8967% META 605.1 1.3245% AVGO 221.57 -0.9167% TSLA 434.8 -1.211% TSM 195.3 -0.133% LLY 758.87 -0.7637% V 315.9 1.9756% JPM 234.325 1.7168% UNH 493.79 -1.1867% NVO 103.7 -2.1329% WMT 93.89 0.3634% LVMUY 130.52 0.7721% XOM 105.67 -0.7048% LVMHF 649.5 0.6649% MA 526.755 1.3068%

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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