📌 Industrial Metal Update

Advisory Bazaar Info Services

🔹 Gold prices declined on Thursday. Strong U.S. jobs data and a firm dollar weakened expectations of a near-term Fed rate cut.

🔹 In January, 130,000 new jobs were added in the U.S., and the unemployment rate fell to 4.3%. Markets are now focused on jobless claims and Friday’s inflation data.

🔹 Silver remained in consolidation throughout the week. Spot demand weakened ahead of the Chinese New Year, premiums declined, and trading activity stayed limited. Social inventories remained at low levels.

🔹 Copper (BC 2603) closed at 90,840 yuan/ton, up 0.43%. Strong U.S. data reduced hopes of rate cuts, while weak pre-holiday demand and rising inventories kept pressure on prices.

🔹 SHFE copper closed at 102,330 yuan/ton, with the spread between the two contracts at -319.