Updated Nov. 21, 2023 3:50 am ET
0836 GMT – Metal prices are inching higher as a weaker dollar helps to ease the pressure on commodities backed by the greenback. Three-month copper is up 0.4% to $8,480.50 a metric ton while aluminum is 0.5% higher at $2,254.50 a ton. Gold meanwhile is 0.7% higher at $1,994.50 a troy ounce. Gold prices are expected to stay firm over the next year, according to BMI, with lower interest rates expected to boost demand for the precious metal. The analysis firm maintained its price forecast at $1,950 a troy ounce for 2023 and 2024, saying rate cuts, geopolitical tensions and a weaker dollar were all supporting gold. ([email protected])
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