Citigroup Looks to Stronger Outlook for Gold, Copper, Aluminum, Steel and Bulks

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While gold is suffering during this time of a rallying U.S. dollar, nevertheless, Citigroup mining analysts advised, "We would be aggressive buyers at current levels."

In an analysis published Monday, Citigroup mining analysts John H. Hill, Graham Wark and Paul Cheng noted that mining and metals "have been battered amid the broader crude oil and China-slowdown induced carnage in materials and cyclical."..

While gold is suffering during this time of a rallying U.S. dollar, nevertheless, Citigroup advised, "We would be aggressive buyers at current levels."

While Citigroup finds that gold "has been punished amid a broad-based correction in commodities," the analysts assert that the floor in the U.S. dollar "is likely a short-term blip for gold, as it underscores the frailty of fiat currency globally."

"We see gold as attractive, heading into a period of seasonally strong physical out-take, which tends to tighten the market and allow any negative macro catalysts to be rapidly transmitted to prices...

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