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Is the relationship between futures price and interest rate the same or opposite?
On the contrary, an increase in interest rates will lead to an increase in deposits, the withdrawal of funds from the market, and the decline in commodity prices. Interest rates fell and funds flowed into the market from banks, which led to the rise of commodity prices. Futures price is a reflection of spot price, which changes in the same direction as spot price, so it is inversely proportional to interest rate like spot goods.