Metals See Slight Recovery as Traders Weigh Dollar Trend, Recession Fears
Oct 3, 2022
Industrial metal prices have registered a slight recovery amid a cooling in the dollar’s rally. The greenback has been on quite a roll for the past few weeks, achieving historic highs with the dollar rally sending ripples through financial markets across the world. Surging dollar prices had a dampening effect on the commodities market, unfortunately, with commodities such as precious and industrial metals, including gold, dropping by 1% to trade at $1,709 an ounce as the dollar hit a new decade high in value.
However, a slowdown in the greenback’s rally eased the cost pressure of dollar-priced commodities and allowed industrial metals to…
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