Iron ore is a rarity among metals as it’s lower year-to-date, and the steel-making staple’s recent, steady descent has brought a test of $100 a ton into view.
Gold and silver’s brief respite early Monday is over with Chinese futures markets open and fresh waves of selling breaking out. Spot gold is through its intraday lows from Friday as bullion futures in Shanghai head sharply down.
US natural gas prices can fall further from current levels due to fading winter heating demand.
The annual Bloomberg Commodity Index rebalancing might lead to significant downward pressure on Silver prices.
Crude is testing crucial support levels after Trump announcement yesterday that Venezuela will be handing over 30m to 50m barrels of oil to the US that will then be sold at market prices.
Gold looks set to outperform Silver in the next few weeks as it enjoys a wider investor base.