August has been one of the best months for metals. Volatility was higher. Industrial metals zoomed and have the best month in the past few years. The big question is whether August’s trend will continue in September for industrial metals and gold. Copper, gold and nickel are testing key long term resistances. August trend will be there for them only on a break of key long term resistances. US economic data releases in August portray a robust economy. In my view interest rates should be hiked by the Federal Reserve at least once more this year. The Federal Reserve meeting in September will be relevant only if they signal the time frame for the next interest rate hike.
This post was published at GoldSeek on 31 August 2017.
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