Metals activity

Anyone noticed a sudden but lasting jump in the price of any metal, including obscure ones like manganese?

 

China getting out of USD liquidity would be my guess.

 

Check the dollar futures.

 

The steel stocks are all near 52 week highs. Manganese is crucial in various alloys. fwiw.

 

Yes, the stocks have been on the high for metals right now.

 

I think is due to COVID

 

Today GOLD has dropped a lot

 

Gold four month low.

LME 3 month Copper off 1.37% today. Since August, LME 3 month Copper has punched through 2019 highs - very impressive run-up since the March selloff.

 

LOL, China has less than 25% of the US Gold reserves if you believe PBoC data. The correlation between Gold and the US Dollar is not what you think. At the current levels of the US Dollar Index - Gold has been everywhere from $380 to $1931 historically.

 

??? Where did I write anything about gold? Are you trolling?