Coup in Guinea sets up a volatile week for metals - Silver
Tony Sycamore September 6, 2021 1:45 AM
Disappointing U.S. payroll data, likely reflecting the spread of the delta variant, helped key metal prices rally into the weekend. A military coup in Guinea over the weekend guarantees further volatility for metal’s prices in the week ahead.
Guinea competes with Australia as Chinas largest supplier of bauxite, the world’s most common sauce of Aluminium. Last week, Aluminium touched a new ten-year high on strong demand, and when Chinese smelters have been under pressure from authorities to rein in the countries carbon emissions. Aluminium is trading 3.2% higher today on the Shanghai Futures Exchange.
Source Tradingview. The figures stated areas of September September 6th, 2021. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation
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