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Global Commodity Technical Analysis Report

Commodities Market Witnessed Recovery Rally, One Commodity Expected to Hold Resistance Level – US Sugar

Oct 01, 2024

sugar
Investment Type
Commodity
Risk Level
Action
Rec. Price (US$)

Global Commodity Market Wrap-Up

Last week, the metals market demonstrated a clear positive trend. Gold showed resilience with a modest gain of 0.84%, while silver saw a notable increase of 1.00%. Base metals also performed strongly, with copper rising by 5.58% and lead climbing by 3.02%. Zinc made a robust gain of 7.52%. This marked contrast to the previous week’s stability underscores a shift toward a more bullish market sentiment.

Last week, natural gas prices rebounded, gaining momentum with a surge of 3.51%, likely driven by supply changes or seasonal factors. In contrast, crude oil prices fell by 3.47%, indicating some nervousness in market confidence. Meanwhile, U.S. sugar prices in the agricultural sector declined by 0.44%, yet this contributed to an overall mixed trend in agricultural commodities amid varied performances across different sectors.

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