Daily FNArena News - Commodities

Jonathan Barratt of Barratt’s Bulletin argues the case for a limit on copper’s downward trajectory.

After a sharp fall in the gold price analysts are asking if there’s more to come, delving into where demand for the metal may be coming from.

Last week was a slow week, but also a positive week, as buyers grudgingly agreed to slightly higher prices.

It’s bearish near term for base metals amid surpluses for aluminium and copper and Deutsche Bank asks whether a rising US dollar can cap the oil price.

Despite the precipitous plunge in recent weeks, gold selling may not be over.

Analysts find little prospect for higher metals prices in the near term and investors are valuing yield over growth.

Brokers suspect copper market bearishness is overdone, while cuts to nickel production are needed and iron ore price forecasts may turn out too low.

Buyers hunting bargains and sellers hunting cash saw the uranium price pull back a little more.

Commonwealth Bank analysts take a look at the vast cheap coal resources which are key to the significant growth in Chinese aluminium capacity.

Jonathan Barratt of Barratt’s Bulletin will not call a bottom for gold just yet but makes the argument as to why a bottom may have been found.