| Deutsche Bank looks for industrial metals to outperform precious metals and energy. “We view the macro environment as remaining hostile to the (precious) sector and specifically gold given our belief that the S&P 500 will hit fresh highs, U.S. long-term real yields are set to move higher and the possibility that divergent monetary policies between the Fed and the ECB (European Central Bank) trigger a more meaningful turn in the U.S. dollar during the second half of the year,” Deutsche Bank says.
“Industrial metals have been the best-performing sector on a total returns basis during the second quarter. A snapback in U.S. GDP growth as well as the Fed preparing the groundwork for a turn in U.S. monetary policy should be supportive for industrial metal prices over the coming year. ..............................................Full Article: Source
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