Commodity markets are experiencing a moderate decline in quotations, as investors await signals from the US Federal Reserve and other central banks at the annual symposium in Jackson Hole. On the London Metal Exchange, copper fell by 0.4% to $9683.5 per ton, aluminum – by 0.2%, and zinc – by 0.8%. The pressure on quotes is due to the strengthening of the dollar and uncertainty surrounding the upcoming Fed meeting in September, where the market is planning a 25 basis point rate cut. A more lenient policy usually supports demand for industrial metals by weakening the dollar. Gold also came under pressure, with December Comex futures down 0.6% to $3,369 per ounce. Market participants are waiting for Fed Chairman Jerome Powell's speech on August 22, hoping to receive signals about the future trajectory of interest rates. Overall, analysts predict that gold will remain at high levels in the coming months, staying in the range of $3,200-3,600 per ounce until the end of 2025. Possible negotiations to resolve the conflict in Ukraine remain an additional uncertainty factor for commodity markets, which also affects investor sentiment.
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