BASELINE VIEW – PRECIOUS METALS:
Gold prices are expected to remain high amid geopolitical risks, while tight supplies could support higher prices for platinum and silver. High levels of political uncertainty and a continued trend of central bank reserve diversification will continue to support gold prices, which remain off the record highs reached in October.
BASELINE VIEW – INDUSTRIAL METALS:
The outlook for base metals is tentatively bullish as tight supply conditions will remain supportive of prices. However, global growth concerns remain. US President Trump’s tariff threat has receded to some degree, but the risk will continue to linger over the markets. This, coupled with still weak growth in China, remains a headwind that will need to be navigated cautiously.
Read report