16/10/2023
π Daily Level β
π¨βπ»As markets continue to be preoccupied with what is happening in and the territories, base metals increase while gold fluctuates. Copper for three months is up 0.8% to $8,001 per metric ton, and aluminum is up 0.3% to $2,195.50 per ton. At $1,922 per troy ounce, gold is down 1%. On Friday, gold rose 3.1% as a result of concerns that Israel was preparing to invade Gaza on foot. "A fall in .S. Treasury yields will have provided some support to the gold market, while the ongoing uncertainty in the Middle East will likely have boosted demand for safe-haven assets," according to a report issued by ING. Despite this, according to ING, ETF demand is still declining, with holdings falling by 397,000 ounces to 86.7 million ounces last week.