The Federal Reserve's hint of interest rate cuts in 2024 led to a significant increase in metal prices

According to Jin10 report, after the Federal Reserve hinted at possible interest rate cuts starting in 2024, metal prices rose sharply. Three-month copper on the London Metal Exchange rose 2.2% to $8,520.50 per tonne, while aluminum rose 1.2% to $2,170 per tonne. Meanwhile, gold prices rose 2.7% to $2,050.50 per ounce. Peak Trading Research stated in a report that the Fed's shift towards dovishness has brought strong bullish momentum to risk assets and commodity markets. The bond market currently expects six interest rate cuts next year, although Fed officials have hinted at three cuts. The market is now focused on the interest rate decision by the European Central Bank later today.