Copper and cotton in a sharp decline due to the trade war … what about gold?

The price of copper this week on the London Metal Stock Exchange fell to its lowest level since August 2024, as the price of a ton of copper reached 8,819.50 dollars, compared to 9,794.50 dollars the previous week, after it touched 8,734 dollars in the session. This decline is due to the impact of the trade war between the United States and China, which sparked fears of global economic slowdown.

Gold, on the other hand, witnessed a decline after it reached a historic record at 3,167.84 dollars an ounce, but it fell to $ 3,024.77 after profit reaping operations. Fears of the slowdown in the global economy have increased, prompting investors to turn their money into gold as a safe haven.

As for silver, it has lost more than 12% of its value since Wednesday, while platinum and bolladium fell by more than 5%.

With regard to cotton, its price decreased to 62.26 cents per pound, compared to 66.90 cents last week, after it landed to 60.80 cents, its lowest level since July 2020, due to the trade war and the customs duties crisis. (Arm News)