Investor sentiment sours

Metals Chart Book
Written by Capital Economics Economist

The prices of both industrial and precious metals suffered last month from waning investor optimism about the outlook for demand. Indeed, concerns appeared justified as China’s manufacturing PMI dropped sharply in April and it became clear that the US president is going to struggle to implement some of his flagship expansionary policies. That said, the outlook for the wider global economy has picked up since the start of 2017, which will offer some support to metals prices.