Categories: Energy / General Market Commentary / Precious Metals
Topics: General Energy / General Market Commentary / General Precious Metals

CHART: Despite unnerving gold price fall, mining rally's intact

CHART: Despite unnerving gold price fall, mining rally's intact

Gold's slide may be hurting sentiment and uranium and potash prices seem to be plumbing new depts every week, but 2016 is still a banner year for mining and metals.

Gold is just hanging onto bull market status with a 20.1% improvement since the start of the year, but recent weakness has seen platinum and palladium drop 8.5% and 7.4% from highs reached in August. With a 47% or $220 an ounce gain from trough to peak in 2016, palladium remains one the best performing precious metal.

While met coal is clearly the star performer, thermal coal is probably the biggest upset – seaborne prices are up 65% in 2016 to above $80 a tonne
Base metals have also enjoyed a breakout 2016 with across the board gains year-to-date. Measured from recent lows which mostly occurred at the end of 2015 and in January and February this year the recovery in prices this year is even more impressive.

Zinc is the top performer for the year with a 49% gain since January and the recent rally in lead means the metal now boasts a 16.5% rise in 2016 scaling $2,000 a tonne in September. Bellwether copper has also been lacklustre adding only 1.5% in 2016 as it remains stuck in a tight range between $2.00 and $2.30.

To continue reading please click link http://www.mining.com/chart-despite-unnerving-gold-price-fall-mining-rallys-intact/