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Metal: gold and copper in a degrading trend

27/02/2023
Categories: Raw materials

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Plagued by persistent inflation in the United States, the ounce of gold has returned to its price at the end of 2022, with a fall of nearly 6%. On the other hand, copper rose before sinking during the week, weighed down by the resistance of inflation in the United States.

Around 16:00 GMT (17:00 in Paris), an ounce of gold cost $1,810.94, down nearly 6% since the start of the month and against $1,842.36 seven days earlier at the end of trading.

For its part, copper rose at first before sinking during the week, weighed down by the resistance of inflation in the United States, which could mean a further rise in the Fed's key interest rates. The red metal is therefore very sensitive to a potential slowdown in global economic activity, serving as a barometer of the economy. On the LME, a ton of copper due to be delivered in three months traded at $8,721.50 on Friday around 16:00 GMT, compared with $8,987.50 at the close of the previous Friday.

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