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Metals flashing red after record runs – Silver (XAG/USD), Gold (XAU/USD) and Copper (XCU/USD) Outlook
['Elior Manier', 'Market Analyst']
MarketPulse
As the US President announced he will officially announce his decision on the Fed Chair next week, Markets are looking back at yesterday's Federal Reserve decision.
Gold was trading 6% higher than the day before the FOMC, only to give up those gains in a 10% flash crash.
Similar flows occurred in Copper, Silver, Palladium, and Platinum, all dropping by 9% to 11%.
By the way, Copper spiked to new record highs in yesterday's evening session, reaching $6.52 per lb, but still lacking a more fundamental foundation to persistently elevated prices.
You can discover more on Copper fundamentals through this wonderful piece.