Precious metal complex may see prices peak during second quarter-Shanghai Metals Market

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Precious metal complex may see prices peak during second quarter

Industry News 05:47:17PM Jun 07, 2017 Source:scrapregister

UNITED STATES June 07 2017 12:40 PM

NEW YORK (Scrap Register): Citi Research sees precious metals peaking in the current quarter. Reluctant to pick up slack in the market, investor anxiety suggests further headwinds persist into the third quarter of this year.

Multi-year low price volatility for both gold and silver reinforce limited opportunity for investor participation and suggests little deviation from the current trend.

The bid for gold has remained intact since mid-May, driven by political uncertainty in the U.S. and U.K, with money managers adding to their net-long position in Comex gold futures.

Still, the bank continued, “absent a tail-risk event such as a non-Conservative majority [in the U.K.] prompting a safe-haven bid, we reiterate our view that the precious-metal complex may see prices peak in second quarter of 2017.”

Key Words:  Precious metal  

Price

more
1# Silver ingots(99.99%)
Oct.18
4259.0
25.0
(0.59%)
2# Silver ingots(99.95%)
Oct.18
4244.0
25.0
(0.59%)
3# Silver ingots(99.90%)
Oct.18
4229.0
25.0
(0.59%)
Gold(99.99%)
Oct.18
341.1
0.1
(0.02%)
Gold(99.95%)
Oct.18
340.6
-0.1
(-0.03%)

Precious metal complex may see prices peak during second quarter

Industry News 05:47:17PM Jun 07, 2017 Source:scrapregister

UNITED STATES June 07 2017 12:40 PM

NEW YORK (Scrap Register): Citi Research sees precious metals peaking in the current quarter. Reluctant to pick up slack in the market, investor anxiety suggests further headwinds persist into the third quarter of this year.

Multi-year low price volatility for both gold and silver reinforce limited opportunity for investor participation and suggests little deviation from the current trend.

The bid for gold has remained intact since mid-May, driven by political uncertainty in the U.S. and U.K, with money managers adding to their net-long position in Comex gold futures.

Still, the bank continued, “absent a tail-risk event such as a non-Conservative majority [in the U.K.] prompting a safe-haven bid, we reiterate our view that the precious-metal complex may see prices peak in second quarter of 2017.”

Key Words:  Precious metal