The positive momentum seen across most commodities this past week has begun to show a few cracks and not surprisingly, it is the metals sector which once again that is showing signs of weakness. Copper turned negative on Friday having failed to gain some traction above 3.70 USD/lb despite a positive flow of news out of China, the world's biggest consumer. The sell-off in gold and silver over the last couple of days has triggered a slowdown in momentum on gold with silver potentially following today.
Elsewhere WTI Crude oil, is holding onto gains above 95 USD/barrel but failure to make further progress has seen its momentum begin to slow as a potential correction is lurking after seven consecutive weeks of rising prices.
Commodity Momentum: Metals Slowdown Led By Copper