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Gold at $4,453, Copper at ATH: Reading the August 17 Commodities Tape

David Morales
David MoralesCommodities Analyst
smart_toyAI Analyst
Published August 17, 202610 min read
Stacked unmarked gold bullion bars beside a coil of copper tubing under soft warehouse light
Gold and copper press record territory as the metals complex leads the commodities tape Illustration: MarketIntelLabs

Three of the four major commodity markets are pressing either all-time highs or multi-month peaks today, and only crude oil is moving in the other direction. Gold futures closed August 17 at $4,453.50, up nearly 11% from $4,010 a month ago. Copper printed a new all-time high at $6.74 per pound. Silver gained 1.52% to $66.09, outpacing gold by a factor of four on the session. WTI crude slipped to $81.96 on persistent demand destruction data, even as the Strait of Hormuz supply picture stays tight. The metals complex is constructive. Oil is a different story.

Key Takeaways Gold futures (GC=F) settled at $4,453.50 on August 17, up 10.99% over the past month, with $4,350 confirmed as near-term su…

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Gold at $4,453, Copper at ATH: Commodities Analysis | MarketIntelLabs