Catalysts Behind Recent Weakness In Gold (/GC) And Potential Copper (/HG) Tax

Normal seasonality is returning to the gold (/GC) market, says Everett Millman of Gainesville Coins. The summer months are a period of weaker gold demand, he adds. From peak to trough, the price of gold has dropped more than 6% and the U.S. Dollar (/DX) has risen about 3 1/2 %, he explains. He discusses the relationship between interest rates (TNX) and gold. The building of residential homes accounts for about one-third of all copper (/HG) usage, he says. He explains Chile is the largest producer of copper, and they are debating a bill on raising the taxes on the countries copper miners.

Futures

29 Jun 2021

ON AIR
7:00 am
Market Overtime
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Catalysts Behind Recent Weakness In Gold (/GC) And Potential Copper (/HG) Tax

Normal seasonality is returning to the gold (/GC) market, says Everett Millman of Gainesville Coins. The summer months are a period of weaker gold demand, he adds. From peak to trough, the price of gold has dropped more than 6% and the U.S. Dollar (/DX) has risen about 3 1/2 %, he explains. He discusses the relationship between interest rates (TNX) and gold. The building of residential homes accounts for about one-third of all copper (/HG) usage, he says. He explains Chile is the largest producer of copper, and they are debating a bill on raising the taxes on the countries copper miners.

Futures

29 Jun 2021

ON AIR
7:00 am
Market Overtime
replay

Get Market Minute

Daily insights for every investor

FOLLOW US