Commodity Markets See Mixed Trends Amid Interest Rate Hikes
The week's market trends in commodities were influenced by various factors, including interest rate hikes and energy prices. Gold saw a slight increase on Friday, supported by a weaker US dollar and falling crude oil prices. However, bullion faced pressure earlier in the week due to the Federal Reserve's first interest rate hike in over three years.
Silver climbed to its highest level in over a week, reaching around $66 an ounce, as lower oil prices eased inflation fears. The resilient US dollar, however, capped further gains.
Copper futures advanced past $6.60 per pound on robust demand signals from China and supply disruptions at major mines.