Precious Metals

With no UK or US markets last night, attention turned to whether Europe would react to Friday’s after-market Spanish downgrade. It didn’t.

Barclays Capital note June tends to be a mixed month across all asset classes, a trend it expects will continue this year.

A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

A glance through the latest expert views and predictions about commodities, while some positive signs for oil prices, mixed views on gold and Merrills seeing little downside for uranium.

It only needed China to deny it was looking to dump the euro to release pent up buying demand last night. Dow up 284. Aussie surges three cents.

Wall Street opened stronger last night, but ultimately closed lower, as the rumour mill churned and the euro pushed toward previous lows. Dow down 69.

The Dow opened down nearly 300 points as Korea entered the mix before a rolling wave of buying took the average back to only down 22, and the S&P into the green.

Wall Street saw a nervous late sell-off as Spain moved to take over a troubled regional bank, but commodities were strong overnight. Dow down 126.

A glance through the latest expert views and predictions about commodities, with analysts suggesting speculative panic has overriden positive market fundamentals in metals.

Morgan Stanley looks at the RSPT impact on BHP and Rio, Merrill Lynch downgrades Rio, and Macquarie comments on Fortescue.