Gold prices gained slightly after the US government's credit rating was downgraded by Fitch, says Hareesh V, Head of Commodities at Geojit Financial Services."Usually, economic uncertainties and dollar volatility can have significant impacts on .
Russia used its natural gas exports as an economic weapon against Western European countries last year, which forged worries over acute fuel shortage, sending prices to record highs. This has disturbed global trade flows that hampered consumers, businesses, and economies worldwide
Weak economic indicators from China and concerns over global growth are hampering demand for industrial metals, with most trading at lower levels than in April. Copper and lead prices declined due to demand concerns, as did aluminium and zinc, which shed more than 50% so far. The property sector in China is beginning to stabilise, but recovery remains subdued due to high debt levels and inflation, while retail sales numbers have posted a contraction. Supply outlook for 2023 is encouraging and a deceleration of global growth and muted demand from China will continue to dominate the metals market.