Gold Silver Reports – ✅ Copper-Aluminum Sell on Rise – Base Metals are higher since open today but trading with a slight negative bias and is expected to decline further in the evening session. Lead and Zinc is trading higher by about half a percent whereas Copper is up 0.30% to trade at 453.75 currently.
Copper-Aluminum Sell on Rise Sell – Real Commodity Guru
Base Metals have been in a corrective mode over the last week and the focus this week will be in China which is due to release its trade figures for December this Thursday. The trade deficit is expected to narrow while both exports and imports are expected to increase in December.
Also, China is expected to release its consumer and producer prices on Tuesday which can have a significant impact on prices this week. The customs report is also expected to show the import figures for base metals which have been stronger in November after a small dip in the month earlier – a strong report could provide a significant boost to base metals ahead of the Chinese New Year.
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The immediate term continues to remain weak for base metals. Copper is trading at 7100 and could extend losses to 7000 (448) this week before consolidating at those levels whereas on the upside a break above resistance at 7170 (457) could carry prices to new highs this month.
