0850 GMT – Metal prices are mixed in early trading as weak economic growth battles against support being provided from geopolitics. Three-month copper is up 0.8% to $8,090.50 a metric ton while aluminum is 0.6% lower at $2,208 a ton. Gold meanwhile is up 0.2% at $1,941.80 a troy ounce. “Renewed geopolitical tensions will protect the downside in gold prices,” ANZ says in a note. “This is in addition to the conclusion in the U.S. monetary tightening cycle and an imminent peak in the U.S. dollar.” ANZ added that central bank buying should provide further support, and prices will have to break below $1,930 an ounce before further selling.

Source: Wall Street Journal November 13, 2023 21:46 UTC