Commodity prices show varied trends amid Global uncertainty
Date
12/17/2024 1:15:48 AM
(MENAFN) Commodity prices display mixed movements over the past week due to persistent geopolitical tensions worldwide and political instability in South Korea.
Escalating conflicts in the Middle East and Asia influence global markets.
Israel intensifies its assaults on Syria after escalated confrontations on November 27, coinciding with the collapse of the 61-year-old Ba’athist regime on December 7.
On Monday, Taiwan's Ministry of National Defense reported on X that aircraft and ships from China’s People’s Liberation Army (PLA) crossed the Taiwan Strait.
Taiwanese President Lai Ching-te’s visit to Pacific island nations, including his stops in Hawaii and Guam—both under US jurisdiction—drew condemnation from China.
Mao Ning, spokesperson for China’s foreign affairs ministry, reiterated in a statement on Monday that the nation will “firmly defend its national sovereignty and territorial integrity,” emphasizing that “Taiwan is an inalienable part of China’s territory.”
In the US, the consumer price index (CPI) rises 0.3 percent monthly and 2.7 percent annually, aligning with expectations, whereas the producer price index (PPI) jumps 0.4 percent month-on-month and 3 percent year-on-year, exceeding forecasts.
The US Dollar Index climbs nearly 1 percent, reaching 106.9 by the end of the week.
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