We think that the withdrawal of fiscal stimulus in China will offset any vaccine-induced boost to metals demand in 2021. And with supply bouncing back, we expect the prices of industrial metals to dip next year. By contrast, we expect that the price of gold will rise a touch as US real yields fall a little further.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.