{"id":13427,"date":"2025-10-09T07:28:41","date_gmt":"2025-10-09T12:28:41","guid":{"rendered":"https:\/\/networkstars.com\/commodities-summary-gold-continues-to-rise-on-safe-haven-demand-oil-prices-remain-stable\/"},"modified":"2025-10-09T07:47:38","modified_gmt":"2025-10-09T12:47:38","slug":"commodities-summary-gold-continues-to-rise-on-safe-haven-demand-oil-prices-remain-stable","status":"publish","type":"post","link":"https:\/\/networkstars.com\/en\/commodities-summary-gold-continues-to-rise-on-safe-haven-demand-oil-prices-remain-stable\/","title":{"rendered":"Commodities summary: Gold continues to rise on safe-haven demand; Oil prices remain stable"},"content":{"rendered":"\n<p>Gold prices continued to rise on Tuesday due to growing demand for the precious metal as a safe haven.<\/p>\n\n<p>Oil prices remained stable after rising more than 1% in the previous session, as the Organization of Petroleum Exporting Countries and its allies opted for a modest increase in production for November.<\/p>\n\n<p>Silver prices were in bearish territory, while copper on the London Metal Exchange rose slightly.<\/p>\n\n<p>Gold hits record high<br\/>The December gold contract on COMEX briefly surpassed the $4,000 per ounce mark on Tuesday for the first time in history.<br\/>This situation is, according to some media reports, the result of the current US government shutdown.<\/p>\n\n<p>\u201cWhile the shutdown may dampen the US economic outlook in the short term, it is unlikely to be the decisive reason for gold&#8217;s continued strength,\u201d Thu Lan Nguyen, head of currency and commodities research at Commerzbank AG, said in a report.<\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>After all, expectations for US interest rate cuts have shown little movement in recent days. It seems more likely that political and, consequently, fiscal risks have recently become a greater source of uncertainty. <\/em><\/p>\n<\/blockquote>\n\n<p>On Monday, the White House downplayed President Donald Trump&#8217;s claim that government employees were already being laid off due to the shutdown.<\/p>\n\n<p>However, they warned that job losses could still occur as the stalemate entered its seventh day.<\/p>\n\n<p>The ongoing shutdown has also delayed the release of crucial economic indicators, forcing investors to rely on secondary, non-governmental data to assess the timing and scope of potential Fed rate cuts.<\/p>\n\n<p>Commerzbank anticipates continued strong support for gold prices, with further upside potential driven by expected significant interest rate cuts in the US.<\/p>\n\n<p>The bank&#8217;s updated forecast is $4,000 per ounce by the end of the year and $4,200 per ounce by the end of next year, up from its previous projections of $3,600 and $3,800, respectively.<\/p>\n\n<h2 class=\"wp-block-heading\">Oil prices remain stable<\/h2>\n\n<p>On Tuesday, oil prices remained stable as investors weighed OPEC+&#8217;s smaller-than-expected November production increase against expectations of oversupply.<\/p>\n\n<p>In the previous session, both contracts experienced a settlement increase of more than 1%.<\/p>\n\n<p>This followed OPEC+&#8217;s decision to increase its combined oil production by 137,000 barrels per day, starting in November.<\/p>\n\n<p>Contrary to market expectations of a more aggressive reintroduction of supply, the group&#8217;s cautious approach to increasing its share of production indicates concerns about an expected oil supply surplus in the fourth quarter and next year, according to ING analysts.<\/p>\n\n<p>\u201cAlthough the increase in production was less than feared, it comes at a time when the supply outlook is already favorable,\u201d Nguyen said.<\/p>\n\n<p>At the time of writing, the price of West Texas Intermediate crude oil was $61.88 per barrel, virtually unchanged from the previous session.<\/p>\n\n<p>Brent crude also remained stable at $65.49 per barrel.<\/p>\n\n<p>Copper prices<br\/>Copper prices have reached almost $10,800 per ton, marking their highest point since May last year.<br\/>Prices rose due to concerns about supply disruptions last year. This was caused by problems in mining production, specifically the unexpected closure of Panama&#8217;s largest mine. <\/p>\n\n<p>\u201cAt that time, we also noted that the price increase was largely driven by expectations, which calls for caution,\u201d added Nguyen of Commerzbank.<\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>Ultimately, those concerns proved to be exaggerated, as there were no restrictions on metal production, despite discussions among Chinese copper smelters about capacity controls.<\/em><\/p>\n<\/blockquote>\n\n<p>The world&#8217;s leading copper producer maintained solid production growth. However, in the second half of the year, a price correction followed. <br\/>\u201cFor similar reasons, we remain skeptical this time that current price levels are justified,\u201d Nguyen said.<\/p>\n\n<p>At the time of writing, the three-month copper contract on the LME was trading at $10,694 per ton, up 0.5% from the previous close.<\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" style=\"font-size:14px\">\n<p>Source: <a href=\"https:\/\/es.investing.com\/news\/commodities-news\/resumen-de-materias-primas-el-oro-sigue-subiendo-por-la-demanda-de-refugio-seguro-los-precios-del-petroleo-se-mantienen-estables-3333228\">Investing.com<\/a><\/p>\n<\/blockquote>\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices continued to rise on Tuesday due to growing demand for the precious metal as a safe haven. Oil&#8230;<\/p>\n","protected":false},"author":6,"featured_media":13429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[128,142],"tags":[],"class_list":["post-13427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-prueba_c-en","category-world"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commodities summary: Gold continues to rise on safe-haven demand; Oil prices remain stable - NETWORK STARS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/networkstars.com\/en\/commodities-summary-gold-continues-to-rise-on-safe-haven-demand-oil-prices-remain-stable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commodities summary: Gold continues to rise on safe-haven demand; Oil prices remain stable - NETWORK STARS\" \/>\n<meta property=\"og:description\" content=\"Gold prices continued to rise on Tuesday due to growing demand for the precious metal as a safe haven. 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