September, 27 2024 Friday 09:11 Hrs
  • SENSEX :   85,893.84

  • Commodity broking firm in India57.72( 0.07%) 27-Sep-2024

Mid Session Commentary - Detailed News

Hot Commodities: Copper and Silver gain momentum amid stimulus hopes
26-Sep-24   15:04 Hrs IST
Copper futures are rallying near $4.5 per pound, close to two-month highs, as China prepares to implement significant stimulus measures to bolster its economy, potentially injecting up to 1 trillion yuan into state banks. Alongside this, the Chinese government has announced plans to cut the reserve requirement ratio and key lending rates, further supporting industrial demand. Silver is also benefiting from this trend, trading above $32.45 per ounce and nearing its highest level since 2012, fueled by dovish expectations from the Federal Reserve following its recent 50 bps rate cut. Together, these developments are enhancing the outlook for both metals, driven by a combination of global monetary easing and increased demand for green technologies.

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