Diverging metals prices

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.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *