Gold, silver fall; wheat hits 25-month high on supply risks
This digest was compiled by AI from multiple sources — links to the originals are below.
Gold slipped to around $4,010 per ounce, losing over 4% in a month, while silver dropped to $56.6, with a monthly decline nearing 13%. Wheat surged to a 25-month high amid risks to Black Sea exports and a poor harvest in Western Australia.
Precious Metals Under Pressure
Gold traded near $4,010 per ounce, down over 4% in the past month, while silver fell to $56.6, approaching a 13% monthly loss. Both metals remain in a downtrend after hitting multi-month lows, with high interest rate expectations weighing on demand. Platinum dropped below $1,600, near its late-November low, and palladium declined to $1,230–1,240, just above autumn lows. Limited supply from South Africa provides some support, but expanding mining projects and rising electric vehicle adoption curb demand.
Industrial Metals Steady
Copper traded around $6.24 per pound, only 1.8% lower than a month ago and near its June record. Supply disruptions in Chile offer support, but geopolitical sell-offs and weak Chinese demand limit gains. Iron ore held at $99, with weak margins at Chinese steel mills posing a risk of reduced demand.
Agricultural Commodities Rally
Wheat hit a 25-month high last week due to risks to Black Sea exports and a poor harvest in Western Australia. Corn reached a seven-week peak. Coffee rose on harvest delays and quality concerns in Brazil. Sugar gained, while orange juice continued to decline.
What's Next
Markets will watch for further developments in Black Sea export corridors and Chinese steel demand. Analysts warn that sustained high interest rates could deepen the downtrend in precious metals.
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Gold, silver fall; wheat hits 25-month high on supply risks
