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Global Commodity Technical Analysis Report

Mixed Performance in Commodity Market Last Week, One Commodity Expected to Hold Support Level – US Sugar

Dec 02, 2024

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

 Global Commodity Market Wrap-Up

Last week, the metals market saw steady momentum, with both precious and base metals trading within a narrow range. Gold lost momentum, falling by 2.05%, while silver experienced a surge of 1.81%. Base metals remained stable, with copper rising by 0.10%, lead increasing by 0.78%, and zinc seeing a modest gain of 1.70%. This shift marks a change in market sentiment compared to the previous week’s stability, driven by evolving investor outlooks and shifting demand dynamics across different metal sectors.

Last week, natural gas prices rose by 4.40%, supported by supply constraints and increased seasonal demand. Meanwhile, crude oil prices fell by 0.92%, weighed down by persistent market uncertainty and fluctuating investor sentiment. In agriculture, U.S. sugar prices bucked the broader trend, dropping by 0.56%, while other agricultural commodities faced downward pressure. These movements across energy and agricultural markets reflect differing supply and demand factors, with investors navigating global economic uncertainty and adjusting their strategies, accordingly, leading to a cautious but evolving market environment.

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