by Gerardo Del Real
Silver was the story in the metals space this week, hitting an 11-month high of $17.69 on Thursday and a 5% gain for the week.
Copper surprised and rose by approximately 6% this week amid optimism of a healthier economic outlook for China — an outlook that I feel will be short-lived. China accounts for approximately 45% of global copper demand. It’ll be interesting to see if copper can hold the gains.
Gold continues to fail to breakout. After hitting a five-week high — also on Thursday — of $1,270 an ounce, it’s retreated once more to the $1,228 level.
I continue to advise caution going into May and advise profit-taking on any company you can’t hold until the end of the year.