Our forecast that global economic growth will stay lower for longer suggests that the recent revival in industrial metals prices will prove short-lived. However, the prices of gold and silver could benefit from the weak macro-economic backdrop. That said, by 2020, we expect the Fed to be firmly in easing mode and for this to prompt a general pick-up in risk appetite, which is likely to boost the prices of industrial commodities. What’s more, a US-led cyclical recovery in 2021 should provide further fuel to prices.
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