BASELINE VIEW – PRECIOUS METALS:
Gold prices have surged recently, given elevated and persistent geopolitical tensions and rising purchases by the world’s major central banks. These factors will remain supportive over the near term.
BASELINE VIEW—INDUSTRIAL METALS:
Base metals were lifted by broader improvements in global manufacturing and brighter prospects for factory output. A more resilient global economy will support prices going forward, but China’s up-and-down economic performance needs to stabilise.
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