{"id":506728,"date":"2022-11-04T21:25:00","date_gmt":"2022-11-04T18:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation\/"},"modified":"2022-11-04T21:25:00","modified_gmt":"2022-11-04T18:25:00","slug":"metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation\/","title":{"rendered":"#Metals Stocks: Gold and silver futures rally; copper hits 2-month peak on China reopening speculation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23d6813de61\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23d6813de61\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation\/#%E2%80%9CMetals_Stocks_Gold_and_silver_futures_rally_copper_hits_2-month_peak_on_China_reopening_speculation%E2%80%9D\" >&#8220;Metals Stocks: Gold and silver futures rally; copper hits 2-month peak on China reopening speculation&#8221;<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation\/#Price_action\" >Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation\/#Whats_happening\" >What\u2019s happening<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation\/#Myra_P_Saefong\" >Myra P. Saefong<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-and-silver-futures-rally-copper-hits-2-month-peak-on-china-reopening-speculation\/#Joseph_Adinolfi\" >Joseph Adinolfi<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMetals_Stocks_Gold_and_silver_futures_rally_copper_hits_2-month_peak_on_China_reopening_speculation%E2%80%9D\"><\/span>&#8220;Metals Stocks: Gold and silver futures rally; copper hits 2-month peak on China reopening speculation&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001357967\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001357967\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Gold and silver advanced Friday, with the white metal finishing the session at its highest price in a month, as the U.S. dollar pulled back in the wake of the October jobs report. <\/p>\n<p> Copper prices rose to the highest settlement in over two months as rumors of an end to China\u2019s zero-COVID policy sent industrial metals higher. <\/p>\n<div class=\"paywall\">\n<h6><span class=\"ez-toc-section\" id=\"Price_action\"><\/span>Price action<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      Gold prices for December<br \/>\n        GCZ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039517\/delayed\" class=\"positive\">+3.23%<\/bg-quote><br \/>\n       delivery gained $45.70, or 2.8%, to $1,676.60 per ounce. Prices based on the most-active contract ended 1.9% higher for the week, after posting a loss of nearly 0.7% last week, according to Dow Jones Market Data.<\/p>\n<\/li>\n<li>\n      Silver prices for December<br \/>\n        SIZ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210319410\/delayed\" class=\"positive\">+7.69%<\/bg-quote><br \/>\n       delivery advanced $1.35, or 6.9%, to $20.784 per ounce, the highest level for a most-active contract since Oct. 4. Silver prices were up over 8.5% for the week.<\/p>\n<\/li>\n<li>\n      Palladium prices for December<br \/>\n        PAZ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/229904593\/delayed\" class=\"positive\">+3.94%<\/bg-quote><br \/>\n       delivery gained $41.40, or 2.3%, to $1,839.50 per ounce, but lost 3% for the week. Platinum prices<br \/>\n        PLF23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230581331\/delayed\" class=\"positive\">+4.75%<\/bg-quote><br \/>\n       for January delivery advanced $36.40, or 3.9%, to $960.50 per ounce, ending 1.2% higher for the week.  <\/p>\n<\/li>\n<li>\n      Copper prices for December<br \/>\n        HGZ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059544\/delayed\" class=\"positive\">+7.78%<\/bg-quote><br \/>\n       delivery gained 26 cents, or 7.6%, to $3.6865 per pound, the highest settlement since August 26 and largest one-day percentage gain since February 2009. It booked a weekly gain of 7.5%. <\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"Whats_happening\"><\/span>What\u2019s happening<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> The U.S.  economy gained a surprisingly strong 261,000 new jobs in October, the government said Friday. Economists polled by The Wall Street Journal had forecast 205,000 new jobs. Still, the increase in hiring was the smallest since April 2021.<\/p>\n<p>Following the data, the ICE U.S. Dollar index<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"negative\">-1.85%<\/bg-quote><br \/>\n       fell by 1.9% to 110.81, helping to provide support for dollar-denominated precious metals. Treasury yields, however, edged higher. Higher Treasury yields can spell weakness for gold, which like other commodities offers no yield.<\/p>\n<p>Gold\u00a0prices added to their overnight gains after the release of the report, \u201cas analysis are saying this is a Goldilocks report that is \u2018not too hot and not too cold\u2019,\u201d said Jim Wyckoff, senior analyst at Kitco.com, in market commentary. <\/p>\n<p>That means \u201cit is not too strong to prompt the Federal Reserve to become more aggressive in tightening its monetary policy, nor is it too weak to cause more concern about a U.S. economic recession,\u201d said Wyckoff.<\/p>\n<p>Even so, Jeff Wright, chief investment officer at Wolfpack Capital, told MarketWatch, that the bias for gold is \u201cto the downside [versus] the upside on any meaningful directional move.\u201d <\/p>\n<p>Gold has been range bound in the $1,600s for awhile, he said. \u201cI do not see a compelling case to allocate more capital to gold at the present time nor a situation to liquidate either,\u201d said Wright. <\/p>\n<p>The market is anticipating a lower pace of interest rate increases, with December probably at 50 basis points, he said. The Fed has \u201cmade the case inflation must be contained even if the trade off is a weaker employment market.\u201d  <\/p>\n<p>The central bank <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved the fourth straight jumbo increase in a key U.S. interest rate \u2014 0.75 percentage points to a range of 3.75% to 4% \u2014 on Wednesday and signaled rates are likely to go higher than previously forecast. <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>On Friday, Boston Fed President Susan Collins said \u201cit is premature to signal how high rates should go.\u201d<\/p>\n<p>Copper prices settled at the highest level since August 26 as hopes continue to build for a potential relaxation of the country\u2019s strict measures aimed at curbing the spread of COVID-19. <\/p>\n<p>Analysts said speculation that China may ease its pandemic restrictions lifted demand expectations for the industrial metal. <\/p>\n<p>\u201cThere will be good physical demand in China, India, and all over Asia next week if [the copper] price remains firm,\u201d Chintan Karnani, director of research at Insignia Consultants in New Delhi, told MarketWatch. Physical buyers of copper will \u201ccheck the sustainability of current price rise, wait for a few days and then decide to buy.\u201d<\/p>\n<p><em>\u2014 Isabel Wang contributed to this article.<\/em><\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Myra P. Saefong\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/myra-p-saefong\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/MktwSaefong\",\"text\":\"@MktwSaefong\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:mpicache@marketwatch.com\",\"text\":\"mpicache@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Myra_P_Saefong\"><\/span>Myra P. Saefong<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"147_MW\" author-name=\"Myra P. Saefong and Joseph Adinolfi\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fsilver-climbs-to-3-week-high-as-investors-await-u-s-jobs-report-11667563380%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><\/h4>\n<p> and\n          <\/p><\/div>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Joseph Adinolfi\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/joseph-adinolfi\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/jsadinolfi\",\"text\":\"@jsadinolfi\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:joseph.adinolfi@dowjones.com\",\"text\":\"joseph.adinolfi@dowjones.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Joseph_Adinolfi\"><\/span>Joseph Adinolfi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"100_MW\" author-name=\"Myra P. Saefong and Joseph Adinolfi\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fsilver-climbs-to-3-week-high-as-investors-await-u-s-jobs-report-11667563380%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-714B-88F66DA5374F%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Metals Stocks: Gold and silver futures rally; copper hits 2-month peak on China reopening speculation&#8221; Gold and silver advanced Friday, with the white metal finishing the session at its highest price in a month, as the U.S. dollar pulled back in the wake of the October jobs report. Copper prices rose to the highest settlement&#8230;<\/p>\n","protected":false},"author":1,"featured_media":506729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/mw3.wsj.net\/mw5\/content\/logos\/mw_logo_social.png","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-506728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=506728"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/506729"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=506728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=506728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=506728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}