Precious metals are in a 'buy the dip market': Expert

"This is firmly a buy-the-dip market. I think what we need to see at this junction is maybe a little bit stronger Chinese demand, maybe a little bit stronger demand from the Western consumers as well. And if that comes through, I think if we had a dip now, that would take us then very swiftly back up," Widmer affirms.

So I think that's something that is potentially uh kind of putting a little bit of a on the, on the immediate rally. And then a lot of the traditional economy like the housing market actually uh subtracting from the copper demand. I think one of the reasons why demand also remains subdued in the traditional economy is that uh there is a lack of confidence in the economy and that has been the case in the end of COVID Michael when it comes to the out performance that we've seen in copper relative to gold when it comes to that ratio, the loftiness that we're seeing there.

Car production sensation is very strong and a lot of that has been linked particularly on the construction side to the Biden uh to the Biden uh policies. So the way all of that plays out is worth following, I think what we hear at the moment uh in the US is there's a broad bipartisan support um to push back against some of the Chinese uh Chinese dominant and that makes it even more important to follow quite closely what's happening.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold prices could 'easily reach $2,500 this year' - Jeff Clark on precious metal breakoutThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Citi's Aakash Doshi on high precious metal prices and 'inelastic buyers'The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

BofA Hires Goldman Sachs, Deutsche Bank Traders in Europe PushBank of America Corp. hired Goldman Sachs Group Inc.’s head of European loan trading and Deutsche Bank AG’s head of sterling investment grade corporates as part of a push to grow in Europe.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Junk Bonds Are Trading Like Blue-Chip in Record Share, BofA SaysA record amount of junk bonds are trading at levels typically seen in high-grade debt, as traders see little evidence of economic weakness ahead, according to Bank of America Corp.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Soft US Jobs Raise Selloff Risk for Stocks, BofA Strategist Hartnett SaysA weaker jobs report would be a stagflation signal, raising the odds of a selloff in stock markets, according to Bank of America Corp. strategist Michael Hartnett.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Soft US Jobs Raise Selloff Risk for Stocks, BofA Strategist Hartnett Says(Bloomberg) -- A weaker jobs report would be a stagflation signal, raising the odds of a selloff in stock markets, according to Bank of America Corp...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »