Gold Under Pressure as Dollar Strengthens, Copper Defies Market Trends
The global metals market closed out September under pressure from the strengthening dollar and rising bond yields. Precious metals like gold, silver, platinum, and palladium are all feeling the heat, with prices struggling to regain momentum.
Gold, in particular, has been stuck in a rut, unable to shake off its losses despite geopolitical tensions and debt risks that should be supporting demand for safe-haven assets. Instead, investors seem spooked by rising inflation expectations and the Federal Reserve's hawkish stance, which is driving up interest rates.
Copper, on the other hand, remains a bright spot in the market, trading near record highs at around $6.60 per pound. Strong demand from the energy sector, as well as trade flows and inventories, are all supporting prices, with some analysts even predicting further gains.