The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
This week, copper was the driving force in metals as Chinese smelters agreed to joint production cuts. Those smelters represent half of the global mined copper supply, triggering a raw materials squeeze that helped fuel the rally in Silver. Funds and short sellers have been skeptical of an economic recovery in China and have remained heavily short in the futures contracts. Given the size of the move last Wednesday , significant short-covering and stop-loss triggers were hit.
Pressure in the Gold market came from ETF liquidation and repositioning regarding when the first interest rate could occur due to the higher inflation and more robust jobs data. Supportive Central Bank demand and geopolitical risk hedging muted the sell-off and kept prices above the critical $2150/oz. Bull/Bear line. With the Gold/Silver ratio trending back to 2024 lows, it remains clear that investors and traders are more keen on owning "risk on" industrials versus safe-haven assets.
Having the flexibility to enter and exit the market quickly makes it essential for Precious Metals investors to have a futures trading account alongside their core Physical Precious Metals holdings.
is a Series 3 licensed Chief Market Strategist at Blue Line Futures and specializes in working with clients in developing futures and options strategies in the metals markets. As the Chief Market Strategist his goal is to show clients how to anticipate, recognize and react to bull and bear market conditions through the use of fundamental and technical analysis techniques that help them to define risk.
The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc.
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