Positive sentiment spreads in commodity markets

After the US President announced that he had reached a trade agreement with Vietnam, positive sentiment spread across the energy market, and investment cash flow also returned to the world raw material market.

The Vietnam Commodity Exchange (MXV) said that overwhelming buying pressure in yesterday's trading session pushed the MXV-Index up nearly 1.5% to 2,228 points.

Energy commodity market is "bright green". Source: MXV

According to MXV, buying power dominated the energy market. In particular, WTI oil price stopped at 67.45 USD/barrel, up 3.06%; Brent oil price is approaching the threshold of 70 USD/barrel, closing the session at 69.11 USD/barrel, up 2.98%.

The main reason supporting the increase in oil prices comes from positive signals from trade negotiations between the US and Vietnam.

The metal commodity market is on the rise. Source: MXV

Yesterday's metal market also saw all 10 commodities in the group improve.

At the end of the session, platinum prices extended their upward trend by 5.51% to $1,433/ounce, continuing to anchor at a record price in nearly 11 years.

Prices of precious metals rose in yesterday's trading session after a jobs report showed the number of private sector jobs in the US fell for the first time in more than two years, raising hopes that the US Federal Reserve (FED) could cut interest rates in September.

In the base metals market, COMEX copper prices continued to maintain an impressive upward momentum, recording an increase of 1.92% to 11,458 USD/ton. The increase in copper prices continued to be reinforced by increasing concerns as the deadline for Washington to impose reciprocal tariffs is approaching.

Source: https://hanoimoi.vn/tam-ly-tich-cuc-lan-toa-tren-thi-truong-hang-hoa-707879.html