Written Commentary
Wkly Futures Market Summary For 2.10.2025
February 10, 2025
GOLD
December gold futures advanced to a new record high due to global demand for safe-haven assets and the anticipation of additional interest rate cuts from major central banks.
SILVER
December silver futures advanced due to escalating tensions in the Middle East, which increased safe-haven demand for precious metals.
Also, positive economic data from China boosted demand expectations in the world’s largest metals consumer. The European Central Bank reduced rates for the third time this year on Thursday, which was also seen as supportive to the silver market.
COPPER
December copper futures advanced and are partially recovering from a near four-week low that was hit in the previous session.
Some of today’s strength can be linked to better-than-expected economic data from China, which is the world’s largest consumer of copper. Despite the positive economic indicators, copper prices are on track for their third consecutive weekly loss, driven by worries over the lack of aggressive stimulus measures to support China’s property sector.
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