Global Economic and Political Tensions Impact Metal Prices

Following the international economic and political developments in the domestic market, the prices of precious metals such as gold, silver and other precious metals have registered a decline instead of an increase. Subsequently, the prices of copper, brass, iron and other industrial metals have also been under pressure. Since most of the transactions in global trade take place in US dollars, increasing the value of the dollar makes it more expensive for consumers to buy goods through other countries'currencies. In such a situation, industrial metals such as copper, brass, aluminum, iron, etc. are also under pressure due to the decrease in demand. On occasion, their prices remain stable or may even decrease. The current international geopolitical tensions also appear to be affecting the metal market. After the uncertainty created in the global market due to the tense situation between the United States, Israel and Iran, the domestic markets fear that further escalation of this tension will affect the global trade, supply chains and economic activity, which will directly affect the demand and price of industrial metals. In the domestic market, copper, copper prices have been rising for some time.