[MARKET ANALYSIS] Metals rangebound following a recent bid higher to ATHs in XAG and 3M LME Copper
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XAU and XAG traded muted at the start of the European session. Oscillating in a tight USD 4201-4236/oz and USD 56.60-58/oz band, respectively. This follows a recent bid higher in precious metals, with XAG surging to a record high of USD 58.84/oz amid speculation of a supply squeeze. XAG has surged c. 15% over the past 5 days while XAU has only risen c. 5% in that same time period. -
3M LME Copper gapped lower and fell to a trough of USD 11.12k/t before rebounding to a session high of USD 11.27k/t as global risk tone slightly turns around following Monday's selloff.
02 Dec 2025 - 09:18- MetalsMarket Update- Source: Newsquawk
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