2018 Metals Outlook

2018 Metals Outlook

It was surprising to see the gold market rally last year in the face of a strong rally in US equities. The lack of safe haven interest in gold was more than countervailed by weakness in the US dollar, which made gold, which is denominated in the US currency, attractive to the world. But it also seemed to suggest that the US central bank would be very careful about raising interest rates. Price measures have continued to be lukewarm in early 2018, but it does appear that synchronized global growth stands a good chance of lifting classic physical demand for the metals complex.

  • Production and Holdings

  • COT

  • Investment demand

  • Production/mining/supply

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