Page 20 - Commodity Etfs News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Meanwhile, Comex copper futures rose 4.2% to $4.069 per pound. Copper demand and prices “should continue to benefit from a recovering global economy and [a]transition to ‘green’ energy sources,” Brent Cook, an economic geologist and senior adviser for the newsletter Exploration Insights, told MarketWatch. The base metal is also finding support from the supply side. Metal miners suffered production slowdowns due to COVID-19 restrictions, and while supplies should pick up speed in 2021, the market will likely continue to be unable to meet demand in the years ahead. Diving into Copper’...

Global copper prices chased after gains in China where the most-traded copper contract on the Shanghai Futures Exchange SCFcv1 rallied to as high as 63,290 yuan, or $9,784, up almost 6% and touching its highest since September 2011, Reuters reports. Fueling the ongoing rally in the industrial metal, China, the biggest metals consumer, has seen a surge in demand on its rebounding economy. Additionally, there were increased expectations of tight supply and a rush of speculative investment, with many analysts jumping on the multi-year bull run. However, Commerzbank warned that the metals market ...

Money managers have started pouring into platinum partly because the hard asset is seen as a good store of value in face of potentially rising inflation pressures, the Wall Street Journal reports. After the run in gold prices last year, some have turned to platinum as a cheaper alternative. Comex gold futures were hovering around $1,818.9 per ounce on Friday, while the platinum spot price was at $1,251.5 per ounce. “It’s a well-kicked dog that’s getting up,” R. Michael Jones, chief executive of Platinum Group Metals Ltd., told the WSJ. Platinum initially gained momentum on the improvi...

The SPDR Gold Shares (NYSEArca: GLD) increased 24.4% in 2020 and attracted $15 billion in net inflows for the year.

Meanwhile, Comex copper futures are now trading around $3.65 per pound. While copper prices slipped Friday along with other commodities, the most actively traded copper futures are still 2% higher so far in 2021 and near their highest level since early 2013, the Wall Street Journal reports. Copper markets have strengthened on strong demand from China and bets that the improving global economy will support consumption of raw materials later this year. Copper is among the necessary components of construction and is used to build everything from computers to houses. Consequently, the base metal ...