Read more about Trading strategies for copper and zinc by Tradebulls Securities on Business Standard. Exhaustion is being witnessed in Copper as on daily scale, there has been an emergence of Bearish Engulfing candlestick pattern
Read more about Cut exposure in Silver amid short-squeeze-driven volatility: Bhavik Patel on Business Standard. CME has raised margin for silver to push back any more speculative moves
Read more about Commodities outlook & trading strategies by Bhavik Patel of Tradebulls Sec on Business Standard. If silver can break above the $26 level, then it is likely that the market goes looking towards the $27.50 level, and then eventually the $28 level
Gold market once again remained caught in a tug of war between expectations of an improving economy and rising inflation pressures as Joe Biden took office. Hopes of a massive stimulus bolstered the prospects for precious metals. Janet Yellen said that tax cut in 2017 for large corporation should be repelled, helping gold/silver to rally. Gold has resistance around $1,865 and needs to break that level for momentum to take it above $1,900. $1,820-$1,810 is the immediate support and we believe gold will trade in range until market gets more clarity on the new administration s policies.
Silver rallied along with gold after Yellen urged lawmakers to act big on coronavirus relief spending, adding that the benefits outweigh the expenses of a higher debt burden. In the near term, gains in gold and silver will be limited due to higher yields and some dollar strength. The price gain suggests bears are exhausted and signals that near-term market bottom is in place. Silver bulls next upside
M&A and strong metal prices in the year ahead
Hope Bay project in Nunavut. (
With rising covid-19 infections, a new and more infectious variant of the virus, and a vaccination rollout slower than most would like, along with the sickening scenes from Washington, D.C. on January 6 that saw mobs inspired by U.S. President Donald Trump’s words launch an attack on Capitol Hill, it’s important to try to stay at least a little bit positive as the new year begins.
That’s why we’ll focus here on the good news: Agnico Eagle Mines’ decision to rescue TMAC Resources in an all-cash deal with an equity value of C$286.6 million ($226m) – 26% higher than an earlier bid from China’s state-owned Shandong Gold Mining, which was blocked in the final weeks of 2020 by the Canadian government under the national security provisions of the Investment Act of Canada.