The gold contract GOLDUD closed last week's fluctuation with a little movement of 0.6% to $1,798.20 per Troy Ounce. The relatively minimal trading sentiment since last Friday made the USD and gold equally strong while the market absorbed issues related to monetary normalization as a follow-up confirmation after sentiment emerged at the Fed meeting last week and COVID’s Omicron developments.
The average ICDX's tin price throughout December until the third week was observed to move consolidated in the price range of USD 40,000 - 41,000 per tonne, weighed by the re-emergence of Covid-19 cases globally which prompted the re-imposition of tighter activity restrictions, causing tin price movements to get depressed.
The COFR rupiah crude oil contract ended the last session of last week with significant appreciation, after starting the week with the remnants of the previous bearish pressure – recording a weekly gain of 7.88% to Rp 1,026,400,- per barrel. The subdued developments regarding the Omicron COVID variant, joined by a number of key oil industry sensitive headlines – such as geopolitics and the policies of major producing countries, served as a catalyst.
During the week, crude palm oil (CPOTR) contracts were observed to be moving in a downward trend and closed the week with a significant correction of 7.29% - closing at Rp 15,1570,- per kg. The risk-off mood combined with bad sentiment around the crude oil market has been the main headwind for palm oil in the past week. However, market players still expect a corrective pullback ahead of the year-end season which usually boosts demand for CPO.
The gold contract GOLDUD closed last week's fluctuation with a deep correction of 3.29% to $1,786.10 per Troy Ounce. Gold prices fell with the pressure growing below the $1800 zone that occurred since the beginning of the trading session this week along with rising 10-year US bond yields – digesting some sensitive headlines from the US.
ICDX tin price movement until the third week of November was observed to be stable with the lowest price touching $39,075 per MT and the highest price reaching $40.105 per MT. The tight supply amid the recovering demand after the pandemic has been the main catalyst that has driven the increase in tin prices since the beginning of the year.
The COFR rupiah crude oil contract ended the last session of last week with a sharp daily correction, after meeting important resistance – finally recording a weekly correction of 0.89% to the level of Rp 1,155,800,- per barrel. A number of different important sentiments influenced the movement of oil prices last week, starting with the focus from OPEC+ and Aramco, to the release of US inflation data on Friday which gave a boost to the USD.
Komoditi adalah semua barang, jasa, hak dan kepentingan lainnya, dan setiap derivatif dari Komoditi, yang dapat diperdagangkan dan menjadi subjek Kontrak Berjangka, Kontrak Derivatif Syariah, dan/atau Kontrak Derivatif lainnya