Gold, silver and copper rally has just taken a breather — new highs are not that far off, experts say
Publishing timestamp: 2024-05-27 20:04:55
Summary
Gold, silver, and copper prices have been rallying to record highs due to factors such as renewed weakness in the U.S. dollar, strong Chinese demand, and supply constraints. Analysts expect prices to strengthen further over the next 12 months, with UBS raising their forecasts for gold. Silver is seen as the best-placed precious metal to benefit from higher gold prices, while copper has also seen a surge in prices due to supply tightness. Overall, there is bullish sentiment in the metals market.
Sentiment: POSITIVE
Keywords: china, business news, chile, united states, citi trends inc, metal commodities, gold / us dollar spot,