Gold Futures Decline During the Early Session
Among other metals, spot silver rose 1.3% to $29.41 per ounce, platinum gained 0.6% to $929.25, and palladium increased 1.2% to $916.
On the Comex division of the New York Mercantile Exchange, gold futures for February were trading at $2,633.00 per troy ounce, down 0.45% at the time of writing.
Earlier in the session, prices reached an intraday low of $2,627.31 per troy ounce. XAU/USD is likely to find support at $2,596.70 and face resistance at $2,667.60, according to recent technical trend lines.
Meanwhile, the U.S. Dollar Futures Index, which tracks the dollar’s performance against a basket of six major currencies, rose 0.59% to trade at $107.98.
Elsewhere on the Comex, silver futures for March delivery climbed 0.66% to trade at $30.16 per troy ounce, while copper futures for March delivery edged up 0.09% to $4.10 per pound.
Notably, during the previous week, bullion dropped 0.9% following the release of the Federal Reserve’s “dot plot” on Wednesday, which indicated only two rate cuts of 25 basis points each for 2025—signaling less easing than projected in September.
Among other metals, spot silver rose 1.3% to $29.41 per ounce, platinum gained 0.6% to $929.25, and palladium increased 1.2% to $916.
Copper and several other metals, such as zinc, may find support from supply-side factors, as low processing rates challenge the profitability of Chinese smelters in 2025. However, this support is expected to remain limited by modest demand, analysts noted.
On the London Metal Exchange (LME), aluminum rose 1.2% to $2,536.50 per ton, zinc increased 0.2% to $2,972.50, lead gained 0.4% to $1,978, and tin advanced 1.0% to $28,660. Nickel climbed 1.5% to $15,340, after hitting a four-year low of $15,065.
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