Analysts from J.P. Morgan Global Research take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.
Episodes
Friday May 05, 2023
Friday May 05, 2023
Speaker
Gregory Shearer, Executive Director, Global Commodities Research
Gold prices continue to mount a seemingly Sisyphean climb to break above all-time highs getting knocked lower again by a stronger-than-expected US payrolls report for April. In contrast, base metals prices have slumped more notably in the last few weeks as Chinese demand remains underwhelming and recession uncertainties keep investors on the sideline. While gold and silver prices will likely continue to chop in a range until more certainty is gained on the Fed’s future rate hiking plans we still think the long-term direction of travel is higher. On the other hand, copper and other base metals could be in for a bumpier ride in the coming months.
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