Copper (HG=F) and Silver (SI=F) have both risen to new highs as demand increases for these metals, while Gold (GC=F) also rises as China’s Ministry of Finance proceeds with a stimulus plan involving the sale of $138 billion worth of ultra-long special sovereign bonds.
Bloomberg Intelligence Senior Commodities Strategist Mike McGlone joins Market Domination Overtime to give insight into metals and how the markets might trade moving forward.
McGlone elaborates on what could happen with silver as China looks to buy many precious metals: "There’s potential rumors that, we know China has been the biggest buyer of gold, not just Chinese Central Bank, but citizens. There may be some hoarding of silver, but the key thing I’m more worried about silver is that it might follow that path, that autocorrelation path in copper which spikes and then goes back down. In the macro, the big picture, though, I’m very favorable in terms of commodities, most favorable to metals versus most other commodities.
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
#gold #silver #yahoofinance
