Green covers the world commodity market

According to the Vietnam Commodity Exchange (MXV), at closing, the MXV-Index increased nearly 1% to 2,216 points.

Metal commodity market increased strongly. Source: MXV

Yesterday's trading session witnessed a strong increase in precious metals while base metal prices fluctuated.

At the end of the trading session, silver prices jumped 3.34% to $35.81/ounce. Meanwhile, platinum prices also extended their increase by 4.27% to $1,136.5/ounce, marking the fourth consecutive increase.

Employment figures released last night suggested the US labor market may be cooling as the impact of tariffs is still being assessed.

Notably, according to the latest report from ADP, the private sector only created 37,000 jobs in May, much lower than the expected 110,000 jobs and a significant decrease from the 60,000 jobs in April.

This information has raised concerns about the health of the US economy , thereby increasing investment in safe-haven assets such as silver.

In the base metals market, copper prices on the COMEX floor increased by 1.09% to 10,772.88 USD/ton, while iron ore prices also increased by 1.23% to 95.46 USD/ton.

Buying power dominates the energy commodity market. Source: MXV

According to MXV, buying power dominated most key commodities in the energy group.

In particular, oil prices have recovered their upward momentum thanks to new positive information in global trade relations, contributing to strengthening optimistic sentiment in the market.

Closing, Brent oil price returned to the threshold of 65 USD/barrel, stopping at 65.34 USD/barrel, corresponding to an increase of 0.74%. WTI oil price also recorded an increase of 0.83%, reaching 63.37 USD/barrel.

Tensions in US-China trade relations have been somewhat eased after a phone call yesterday between US President Donald Trump and Chinese President Xi Jinping.

However, the oil price increase is still restrained by supply factors, especially the strong increase in production by OPEC+ in July.

In addition, Saudi Arabia - the world's largest oil exporter - has cut crude oil prices for July delivery to Asian customers to a near two-month low, adding further downward pressure on global oil markets.

Source: https://hanoimoi.vn/sac-xanh-bao-phu-thi-truong-hang-hoa-the-gioi-704690.html