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23.05.2022 15:42 News >> Commodity Market Tends Toward Recovery

Commodity Market Tends Toward Recovery

Gold gains 1.9%, silver 3%, palladium 1.2%, platinum 1.4%

Having shaken off selling pressures, the commodity market tended toward recovery last week.
It showed significant price rises after downward pressures registered weeks earlier.
Last week, gold gained 1.9%, silver 3%, palladium 1.2%, and platinum 1.4%.
Analysts pointed out that aggressive central bank policies and growth-focused concerns remained on the global agenda amid high inflation rates.
US Federal Reserve chair Jerome Powell signaled that a soft landing for the economy would be "challenging," while "safe haven" investments gained popularity.
Base metals also showed signs of recovery with loosening COVID-19 restrictions in China fueling demand.
In the over-the-counter market, copper increased 3.5%, lead 3.8%, aluminum 5.9%, and zinc 5.1%.
The international benchmark Brent oil rose 0.5% and natural gas traded on the New York Mercantile Exchange rose 5.5%. -



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