TREE NEWS reports: Spot gold rose 0.7% to $4,089.15 an ounce at the New York close on Thursday, Nov. 5, after hitting a session high of $4,146.97 at 11:57 Beijing time. Spot silver fell 0.84% to $51.7798 an ounce, while COMEX copper dropped 3.47% to $6.2055 a pound, sliding steadily after the U.S. open. The NYSE Arca Gold Miners Index gained 2.64% to 2,467.55, while the State Street SPDR metals and mining ETF fell 5.6% to $90.42.
Spot gold rises 0.7% to $4,089/oz; COMEX copper falls 3.47%
AI take
The split between gold and copper is the story here: bullion's gains alongside a sharp copper selloff point to defensive positioning rather than broad commodity demand, with the intraday pullback from the session high suggesting buyers faded at the top. The divergence between gold miners rallying and the broader metals and mining ETF dropping underscores how narrowly the strength is concentrated. Whether copper's slide continues into the next session is the open question for anyone tracking industrial demand signals.
Generated by AI for reference only.
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