Metals, gold, silver and copper, shone today in the form of a rally
gold
After the last US 30-year auction, it added $2 to a $20 gain to reach $2,177 on the day. This figure is about $16 less than last week's record high.
Copper and silver
Looking to join the gold market. Copper today rose 3.1% to above $4 for the first time in seven months.
Chinese smelters are scrambling to find copper concentrate, with stocks rebounding from a decade-low.
There is something like an inverse head and shoulders pattern on the copper chart targeting $4.25/$4.30.
Meanwhile, gold rose 0.9 percent as it hit an eight-day high after holding steady.
Yesterday's massive sell-off after the CPI was met with buyers on speculation that China's central bank is buying heavily and that Russia and other BRICS countries may have moved away from US dollar reserves.
Finally, silver is up 3.2% today at year-best levels, although bulls may want to fall below $26 to confirm further gains in the precious metal.
Stay with us for the rest of the video
gold
After the last US 30-year auction, it added $2 to a $20 gain to reach $2,177 on the day. This figure is about $16 less than last week's record high.
Copper and silver
Looking to join the gold market. Copper today rose 3.1% to above $4 for the first time in seven months.
Chinese smelters are scrambling to find copper concentrate, with stocks rebounding from a decade-low.
There is something like an inverse head and shoulders pattern on the copper chart targeting $4.25/$4.30.
Meanwhile, gold rose 0.9 percent as it hit an eight-day high after holding steady.
Yesterday's massive sell-off after the CPI was met with buyers on speculation that China's central bank is buying heavily and that Russia and other BRICS countries may have moved away from US dollar reserves.
Finally, silver is up 3.2% today at year-best levels, although bulls may want to fall below $26 to confirm further gains in the precious metal.
Stay with us for the rest of the video