New York gold futures prices fell on Thursday, with silver futures falling nearly 5%, while copper hit its lowest level since November. StoneX market analyst Fawad Razaqzada said, “Some commodities, including gold, silver, and copper, fell sharply on Thursday due to the impact of the rebounding dollar and concerns about weak future demand.”
He said concerns about global metal demand have resurfaced, putting pressure on metal futures prices.
On Thursday, New York Mercantile Exchange gold futures prices for delivery in June fell $16.60, or 0.8%, to settle at $2,020.50 per ounce.
July silver futures fell $1.23, or 4.8%, to settle at $24.42 per ounce, marking the largest daily percentage drop since February.
July copper futures prices fell 13 cents, or 3.4%, to settle at $3.71 per pound, the lowest closing price since November 29th.
