ICDX gold prices strengthened to $2,342.03 per Troy Ounce compared to the previous week as a series of hot US data dimmed the Federal Reserve's prospects for lowering interest rates.
The price movement of crude oil contracts transacted on ICDX throughout the week ending March 29 experienced a bullish rally with the lowest price at $81.23 per barrel and the highest at $83.08 per barrel. Some of the main sentiments that became positive catalysts for oil prices this week included the Israel - Hamas conflict, Ukraine's attack on Russian energy facilities, and Novak's statement regarding Russia's focus in the second quarter of this year.
ICDX gold prices weakened to $2,157.86 per Troy Ounce compared to the previous week, influenced by a series of robust US economic indicators that tempered expectations of a Federal Reserve interest rate reduction.
ICDX tin prices rose 3.02% compared to the previous week accompanied by a surge in demand in China's main markets amidst improving economic activity in Tiongkok.
Throughout the week ending March 1, the price trend of crude oil contracts traded on ICDX showed a bullish rally and closed higher by almost 3 percent. The sentiment that is driving oil prices to move positively includes uncertainty over ceasefire talks in Gaza, tensions in the Red Sea that have not subsided, and coupled with strong signals from OPEC+ ahead of a meeting in early March to extend production cuts.
The CPOTR price movements increased within a week to IDR 12,500/Kg, triggered by a decrease in Malaysian palm oil supplies and expectations of increasing CPO demand for the use of sustainable biofuels.
The decline in ICDX gold prices to $2,017.75 per Troy Ounce compared to the previous week was influenced by hotter-than-expected US inflation data, along with disappointing US Retail Sales data for January. These factors led market participants to lower their expectations for an early Federal Reserve interest rate cut.