Commodities
Domestic Metals Surge as Overseas Markets Decline Amid Iran Tensions
The domestic metal market saw broad gains on August 24, while overseas markets suffered losses. SHFE zinc rose by over 1%, and coking coal and coke contracts increased by nearly 3%. In contrast, LME metals declined overall, with LME copper falling by 0.14%.
COMEX gold hit a fresh high since May at $4,713.8/oz, while SHFE gold reached a new peak at 1,008.78 yuan/g. The most-traded platinum futures rose by 1.37%, and palladium futures gained 0.61%.
US Treasury Secretary Bessent confirmed that the specific actions of the 'unprecedented economic isolation' measures against Iran would be officially announced on August 24, following US President Trump's announcement of an 'economic war' against the country.