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iPath Bloomberg Copper Subindex Total Return Sub-Index ETN
By Andrew Robinson
The so-called "Phase One" of the US-China trade deal appears to be progressing, with China boosting purchases of US agricultural products. The better outlook is keeping a lid on gold while boosting industrial metals, though oil is struggling to benefit.
Precious metals
Gold has started the week negatively as an improvement in the trade outlook and increased risk appetite reduce the need for the safe haven asset. The lack of upward momentum is taking its toll on speculative long positions, which were trimmed to the least since the week of July 23,