Precious Metals & Gold

Bear Trend Alert: A downward spiral is currently engulfing the industrial metals sector. The reasons: inconsistent economic data from China, a strengthening dollar, and a resurgence of risk aversion. Copper now trades at $7,900 per metric ton on the LME, a significant drop from just over $9,000 a little over a month ago. Zinc too has plunged to $2,222. Nickel ($21,000) and tin ($2,452) are witnessing similar trends. Gold, impacted by the rising US dollar, has struggled to recover. However, the precious metal has managed to stabilize at $1950.