[MARKET ANALYSIS] Metals pare back earlier losses as high volatility continues
Importance
Level 1
- Precious metals continued its selloff early in the APAC session, with spot gold dipping to a trough of USD 4655/oz while silver slipped to USD 60/oz. Metals have rebounded since the earlier selloff as the yellow metal nears new session highs of USD 4900/oz.
- 3M LME Copper gapped lower at the start of trade, falling to a trough of USD 12.54k/t, before paring back losses and returning back above USD 12.8k/t. The red metal has been weighed on in recent sessions by AI and big-tech spending, this time following Amazon earnings, in which CapEx is expected to rise higher than expectations.
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