[MARKET ANALYSIS] Metals continue their surge higher with XAG, Copper and Tin hitting new ATHs; crude trades muted amid lack of geopolitical updates
Importance
Level 1
- Crude futures have traded rangebound throughout the Asia-Pac session amid a lack of updates from the meeting on options regarding Iran. WTI Feb’ hovers at the lower end of its USD 60.80-61.20/bbl range while Brent Mar’ holds above USD 65/bbl.
- Precious Metals continue their historic trend higher, with spot silver reaching USD 90/oz for the first time, while spot gold returns just shy of its ATH of USD 4636/oz after the yellow metal pulled back to a trough of USD 4570/oz late in Tuesday’s US session.
- Base Metals follow the trend seen in precious metals, with 3M LME Copper reaching a new ATH of USD 13.41k/t while benchmark 3M LME tin hits a new record above USD 51k/t on strong Chinese investor demand.
#UNITED STATES#USD#EUR#CHINA#JAPAN#JPY#UNITED KINGDOM#GBP#ASIA#EUROPE#GEOPOLITICAL#FOREX#ENERGY#METALS#ASIAN SESSION#TIN#HIGHLIGHTED#WTI#BRENT#COMMODITIES#COPPER#GOLD#SILVER#METALS & MINING#MATERIALS (GROUP)#DXY#MARKET ANALYSIS#MARKET UPDATE