The dollar has strengthened today as stocks managed to take back some of the recent losses, due to encouraging data from the U.S. about declining deaths and patients admitted to hospital. We once again highlight the backdrop of weak economic data which was affirmed by Warren Buffet over the weekend.
Rising tensions between the U.S. and China once again remain a threat for metals. Activity on the LME was subdued today with copper prices struggling to gain a footing on the upside, closing at $5,123/t. Tin prices continue to be well bid closing at $15,085/t. Nickel prices declined the most today, closing at $11,812/t down $143. Ali, zinc and lead were also weaker closing at $1,483/t, $1,899/t and $1,630/t respectively.
Gold prices have firmed today to $1,706/oz and oil is also marginally higher with WTI and Brent at $19.91/bl and $26.66/bl.