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Monday 23 July 2018

Gold, silver and platinum with new bottoms (1)

What happens to raw materials should seriously stress investors on global stock markets. Because they have entered a correction phase and traditionally it is believed that the direction of commodity price movements points to the situation in the growth of the world economy.
Copper, which has often predicted short-term GDP growth with very high precision, saw a decline of more than 18% from its peak in May. In the light of the appreciation of the US dollar, copper fell below $6,000 (18% of its peak in May), and US crude oil tested $68 a barrel.
Gold fell below $1,202, and platinum rested near a 14-year low at levels below $800 per ounce. Silver, another industrial noble metal, is about to test the psychological limit of $15 per ounce.


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