CITIC Securities' metals team published a weekly note stating that cooling U.S. rate hike expectations and central bank gold buying are supporting gold prices, while copper prices have rebounded on mine disruptions. The broker expects copper equities to catch up and sees the most pessimistic period for metals stocks as over.
CITIC Securities remains bullish on gold and copper, expecting copper equities to close the performance gap and the metals sector to offer better returns ahead.
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