BASELINE VIEW – PRECIOUS METALS:
Gold prices are finding some momentum again with geopolitical risks still elevated and the prospect of coordinated global central bank easing. The outlook for gold, therefore, remains fairly constructive. PGMs, however, face potentially difficult prospects ahead given expectations for global economic growth to slow sharply in the coming months.
BASELINE VIEW – INDUSTRIAL METALS:
Base metals remained under pressure through July and recent financial market volatility has applied even more pressure. The global economic growth outlook is weakening and demand for metals will likely weaken before the impact of central bank rate cuts can take effect.
Read report