Metals View:
The trade truce between the U.S. & China and positive data about the U.S. economy weighed on gold prices in Nov. Gold traded in a range of $1,450–1,485 for the most part of November. Silver was down 5.6% in November. China’s economy is slowing for the seventh month in a row and will weigh on demand for base metals such as Copper, Nickel, and Zinc.
Trade war tensions have started building up again toward the end of Nov. In the face of uncertainty in the ongoing trade negotiations, prices of safe-haven metals like gold and silver may remain volatile. Base metals too are expected to lose strength due to weak economic data from various emerging economies, including India. One can follow us to get EXCLUSIVE updates on metals.