Metals' response to the US election; Red copper, green gold.
▫ Three important variables affected the course of the world's financial markets last week: the result of the US elections, concerns about artificial intelligence and the employment data in the country.
▫ The election result increased traders' risk tolerance, and raised the global gold price to the range of $4,130; But the publication of employment data in the US turned the page and with the strengthening of the risk-averse atmosphere, gold entered the downward path. On the other hand, the fear of the consequences of artificial intelligence and its impact on various industries put industrial metals under selling pressure and this asset group ended the week with negative returns.
▫ But in general, after the American elections, gold closed the week green, but the copper metal turned red. Because after the election results, the fear of artificial intelligence and the Democrats' restrictions on data centers increased.
▫ The price of silver also behaved similarly to global gold and closed at $51 after swinging back and forth, which recorded a positive return of six percent last week.
The link of this program in Aparat.