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July 04, 2023
Most markets are higher this morning as risk-on sentiment dominates: Palladium, Platinum, Heating Oil are showing impressive gains as we move into the afternoon trading session.
The leading indices are showing gains — Brent Crude Oil up to $75.28, gaining 0.84%. Crude Oil up to $70.43, gaining 0.92%.
Meanwhile, United States ISM Manufacturing PMI (Jun) came out at 46, while a consensus of analysts was expecting 47.2.
Here are the biggest commodities gainers so far today.
NY Heating Oil | +0.95% in mid-session
Having soared to a high of $4.65 approximately 8 months ago, NYMEX Heating Oil is now trading 48.9% lower.
The Platinum future | +1.27% in mid-session
Platinum is now trading 19.75% below the significant high of $1,141.5 it set around 2 months ago.
+1.63%: Metals in focus as bullish CME Palladium posts 1.63% gain
Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. After closing the previous trading day at $1,227, Palladium is up to $1,247 per troy ounce, which makes for a move of 1.63%/$20 today.
