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.
ICDX tin prices weakened -2.48% compared to the previous week due to signals that China's economy is slowing down and triggering concerns will have an impact on global economic recovery as well as affect demand for tin and make tin's performance weaken.
Oil prices throughout the week ending February 2 closed bearish or fell by 6 percent, one of the main triggers was the negative signals ahead of the regular OPEC+ meeting on February 1 which led to a split within the alliance. Apart from that, the results of the OPEC+ meeting did not decide on new production figures, but preferred to wait until next March regarding changes of the current production policy.
ICDX gold prices weakened at 1.19% compared to the previous week with the focus on strong Chinese economic data while the market was also waiting for a decision on interest rates, whether the Fed maintained interest rates or started lowering interest rates.
Indonesia merupakan negara produsen minyak kelapa sawit (Crude Palm Oil/CPO) terbesar di dunia. Hal ini membuat kelapa sawit menjadi salah satu komoditas perkebunan yang memiliki peran strategis dalam pembangunan ekonomi Indonesia. Bagaimana potensi kelapa sawit Indonesia? Dan bagaimana upaya yang perlu dilakukan untuk terus mengembangkan industri kelapa sawit nasional? Simak ulasan lengkapnya dalam The Source Issue 28.
ICDX oil contract prices closed higher at $73.92 per barrel for the week ending January 5th. The increase in oil prices is attributed to the escalating conflict between Israel and Hamas. The closure of oil fields in Libya also contributed to the rise in oil prices this week.