Prices on gold have shot up
Precious and industrial metals, in particular gold, aluminum and copperstepped up confidently right after Goldman Sachs and Deutsche Bank analysts published reports in defense of the sector.
Goldman Sachs named 3 reasons to buy gold
Reason #1 - projected stabilization at emerging markets.
Reason #2 - recently observed elimination of investments in the "gold" ETF (exchange traded funds) was one-time and speculative in nature, not the result of long-term capital outflow of investors.
Reason #3 - it's a fallacy to assume that the period of rising interest rates, when bond yields are rising, is bearish for gold.
Deutsche Bank supported copper and aluminum
A three-month forecast implies a rise in prices on gold up to $ 1,250 per troy ounce.
Trade war based fears led to an overly expressive fall in prices for industrial metals. Bank experts expect stabilization in the sector but preference is given to aluminum and copper. Stocks of this metal have already declined significantly while the demand remains high. Copper might be supported by reduced smelter production and reduced scrap shipments.
* Reprint of material from the site ProFinance.ru from 02.10.18