The price of gold is being forecast to pass $2,000 an ounce next year.
And yet miners/manufacturers of industrial metals, such as iron and copper, are finding customers asking for shipments to be delayed.
This is a “marked shift in industry sentiment from only six weeks ago, when most … groups painted a bullish outlook for commodities demand and prices, despite falling equity markets.”
With global growth being described as “weak and weakening“, companies are taking a ‘wait and see’ approach — although large customers in China are “not showing any sign of slowdown.”