copperoutlook
Nick Hodge, publisher at Digest Publishing, shared his latest thoughts on gold, silver, copper and uranium. Speaking first about the yellow metal, he said he sees it maintaining its bullish edge. "Gold is starting to check technical milestones. It's checking technical boxes that tell broader, more generalist investors that gold is emerging from a bear market, and it starts to beget or attract capital simply because it's going up," Hodge explained. While silver is currently lagging behind gold, it's starting to move based on a shift in perspective. "What's happened is that silver is being treat...
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Copper prices broke US$10,000 per metric ton this week, hitting highs not seen in two years. The last time they crossed the threshold was in March 2022 amid tensions following Russia's invasion of Ukraine. Although concerns about demand from China remain, worries over dwindling global supply are heating up. Copper has also been gaining momentum on anticipation of interest rate cuts from the US Federal Reserve. Looking at supply, Goldman Sachs (NYSE:GS) has warned of intensifying stress, with analysts at the firm projecting a possible "stockout episode" by the fourth quarter due to growing defi...
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The gold price corrected this week, even falling briefly below US$2,300 per ounce. While that's down from levels of over US$2,400 earlier this month, most experts aren't concerned about the yellow metal's price activity. I asked Craig Hemke of TFMetalsReport.com about the recent pullback, and he said that it's completely normal — he noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy. With that said, Hemke does see strong upside potential for the precious metal in 2024. He said there are a lot of technical targets that line up w...
Investing News Network
Copper prices on the London Metal Exchange (LME) saw upward momentum in the first quarter of the year on the back of tightening supply and increasing demand from the energy transition. After bottoming out at US$7,800 per metric ton (MT) in the fall of 2023, copper prices bounced back to start 2024 in higher territory, but elevated supply kept the red metal trading in the US$8,000 to US$8,500 range until mid-March. Since then, copper has seen strong gains, reaching a quarterly high of US$8,973 on March 18. With increasing market volatility since the start of April, prices continued trending up ...
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Copper prices hit a nearly two year high this week, and according to analysts at investment bank Citigroup (NYSE:C) that's a sign the red metal has entered its second secular bull market of the century. Over the past two months, copper has surged by more than 15.75 percent, fueled by disruptions at mining operations that have threatened refined copper production in China, a major global supplier. “The recent disruptions to major mines are starting to ripple through the industry,” said strategist Daniel Hynes of Melbourne's ANZ Bank. “A group of 13 major copper smelters in China is preparing fo...
Investing News Network
Copper is the third most-used metal in the world, and experts believe demand for this important commodity is set to rise in the coming years. At the same time, the supply situation is expected to tighten up. For that reason, market watchers may be asking, “When will copper go up?” The general consensus is that while prices may not break out in the near term, they will rise once the market truly starts to enter a deficit. This is already being seen in 2024 as copper prices climb. “Most analysts are modeling growing deficits in the copper market balance by 2027-2028, with a near-term forecast (2...
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