The prices of industrial metals surged again this week, in large part due to investor buying. In contrast, the price of gold fell further as the dollar appreciated and the minutes of the November FOMC meeting pointed strongly to a US rate hike in December. Meanwhile, the oil market was in wait-and-see mode ahead of next Wednesday’s OPEC meeting. We expect OPEC to announce some sort of face-saving deal to curb output, but for it to have little material impact on supply.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services