Copper Jul 24 (HG=F)
| Pre. Settlement | N/A |
| Settlement date | 2024-07-29 |
| Open | 5.080 |
| Bid | 5.104 |
| Last price | 5.050 |
| Day's range | 5.004 - 5.199 |
| Volume | |
| Ask | 5.104 |
Yahoo FinanceGold, copper hit records, silver reaches 12-year high as metals rally continues
The metals market is on fire as gold and copper hit new records, while silver reached a 12-year high.
- Yahoo Finance Video
Precious metals are in a 'buy the dip market': Expert
BofA Global Research Head of Metals Research Michael Widmer joins Morning Brief to discuss the recent rise in commodity trading, specifically in precious metals like gold (GC=F), silver (SI=F), and copper (HG=F), and why he feels bullish on this sector. "This is firmly a buy-the-dip market. I think what we need to see at this junction is maybe a little bit stronger Chinese demand, maybe a little bit stronger demand from the Western consumers as well. And if that comes through, I think if we had a dip now, that would take us then very swiftly back up," Widmer affirms. When asked about the Chinese demand for copper, Widmer claims: "So you have the green industries which have carried the copper market in China. So that's... solar, that's wind, that's the EV side of things. And then a lot of the traditional economy, like the housing market, actually, subtracting from the copper demand. So what would make me much more comfortable at this junction is if we continue to see the green spending coming through while we have a little bit of a lower drag from the housing market." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
- Yahoo Finance Video
Dow Jones crosses 40,000, commodities demand rises: Market Domination Overtime
On today's episode of Market Domination Overtime, Yahoo Finance hosts Julie Hyman and Josh Lipton break down the market close and the day's biggest stories. The Dow Jones (^DJI) closed higher for the fifth week straight, at a record 40,000. Meanwhile, the Nasdaq Composite (^IXIC) dipped 0.07% and the S&P 500 (^GSPC) held above its 5,300 benchmark. Hennessy Funds CIO and Portfolio Manager Ryan Kelley and RBC Capital Markets US Economist Michael Reid break down what the Dow Jones record could signal for the overall economy as interest rates remain relatively high. Commodities like Copper (HG=F) and Silver (SI=F) have reached new heights as demand increases. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone gives key insights into the surge of metals and how China plays a critical role. Outgoing Boeing (BA) CEO Dave Calhoun will remain on the company’s board following a shareholder vote. Boeing will seek a new CEO to help the company recover from the two fatal 737 MAX crashes and the detached fuselage on an Alaska Airlines flight. The company is also facing potential prosecution from the Justice Department for violating an agreement reached to avoid criminal charges over the 737 MAX crashes. Finally, Julie Hyman and Josh Lipton break down what investors should watch next week, from Nvidia (NVDA) earnings to the Federal Reserve's May FOMC minutes. This post was written by Melanie Riehl
