|

Copper price forecast

ByVictoria

The EV industry in China and the world is already booming; pumping copper’s status as “the new oil”. As such, the red metal is set to rise above the current uncertainties to record significant gains in the medium to long term.

Copper has also jumped above the 50-day moving average, while the Relative Strength Index (RSI) has continued rising. Therefore, it will likely rebound and retest the key support at $5 in the coming weeks.

Source – Invezz

More Info!

RSI (Relative Strength Index) – is a technical indicator intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.

Similar Posts

  • /

    Gold rises with new record

    ByVictoria
    0 Comments

    “We could envision a situation where inflation migrates higher, while the economy slows down as the auto sector grinds to a sudden halt, for example,” said Bart Melek, global head of commodity strategy at TD Securities.  “Higher inflation and low rates, and the associated angst with the president’s imposition of tariffs, so uncertainty and risk are helping gold.” 

    “These tariffs create a strong tailwind for gold,” Bank of Montreal analysts wrote in a note. “Not only because of their inherent inflationary effects but also as the USA’s increasingly hawkish foreign policy may accelerate de-dollarisation plans.”

    Source – Bloomberg

  • / / /

    Gold up 5% this week, Silver gained

    ByVictoria
    0 Comments

    Spot gold jumped over 1% to $3,214.92 an ounce, as of 0801 GMT, after hitting a record high of $3,219.84 earlier in the session. Bullion is up over 5% so far this week.

    “Recession risks are mounting, bond yields are soaring, and the U.S. dollar continues to weaken – all factors reinforcing gold’s role as a crisis hedge and inflation shield,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany.

    “We believe gold has further to run—in the upside case, we target USD 3,400-3,500/oz over the months ahead,” said UBS analyst Giovanni Staunovo.

    Spot silver gained 0.4% to $31.31 an ounce, while platinum added 0.7% to $944.35. Palladium gained 1.9% to $925.43.

    Source – Reuters

  • /

    Investors looking at Codelco Copper company

    ByVictoria
    0 Comments

    “Codelco remains a good option to grab some extra spread over sovereign bonds.”

    Copper futures are up about 15% this year in New York, although part of that is due to an up-tick in buying ahead of possible tariffs.

    “Good governance and high copper prices should be good for bonds. Codelco is interesting.”

    Source – Bloomberg

  • /

    Ready to strike planchets could keep the penny circulating

    ByVictoria
    0 Comments

    The inventory of unstruck ready-to-strike cent planchets combined at the Denver and Philadelphia Mints is considered by the Federal Reserve and the U.S. Mint enough to handle production needs for the near future as the mintages wind down, with no more planchets ordered from the lone outside vendor.

    The unstruck planchets are also sufficient for striking Uncirculated Lincolns cents at the Philadelphia and Denver Mints for inclusion in 2025 Uncirculated Mint sets and for Proof sets executed at the San Francisco Mint.

    Source – Coin World

  • /

    Last years gold prices lead to this years strong prices

    ByVictoria
    0 Comments

    Gold prices made steady progress last year and have continued that with a very strong start to this year, said George Milling-Stanley, chief gold strategist at State Street Global Advisors. That has led to April gold’s settlement at $3,001.10 an ounce on Comex Friday, the highest most-active contract finish on record.

    Source – Market Watch