Precious metals are in a 'buy the dip market': Expert

BofA Global Research Head of Metals Research Michael Widmer joins Morning Brief to discuss the recent rise in commodity trading, specifically in precious metals like gold (GC=F), silver (SI=F), and copper (HG=F), and why he feels bullish on this sector. "This is firmly a buy-the-dip market. I think what we need to see at this junction is maybe a little bit stronger Chinese demand, maybe a little bit stronger demand from the Western consumers as well. And if that comes through, I think if we had a dip now, that would take us then very swiftly back up," Widmer affirms. When asked about the Chinese demand for copper, Widmer claims: "So you have the green industries which have carried the copper market in China. So that's... solar, that's wind, that's the EV side of things. And then a lot of the traditional economy, like the housing market, actually, subtracting from the copper demand. So what would make me much more comfortable at this junction is if we continue to see the green spending coming through while we have a little bit of a lower drag from the housing market." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino