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Metals are making a comeback after the China inspired meltdown. Even with talk of more massive economic stimulus being touted by China, the street believes that this is too little/too late and they want to see more.
Yet gold is listening to some Fed officials. Barrons reported that’ The US Federal Reserve should be more careful with its pace of rate cuts than it was in September, a senior bank official said Monday, pointing to “disappointing” recent inflation data.The US central bank kicked off its rate-cutting cycle last month with a large cut of half a percentage point, noting the progress made in bringing inflation down toward its long-run target of two percent. But the data published in the three weeks since the rate decision was announced have been “uneven,” Fed governor Christopher Waller told a conference in California, according to prepared remarks. He called the latest inflation figures “disappointing”.

Gold is getting a rally as they are putting back in inflation premium. The strong dollar has been a headwind.
Kitco News reported that Bitcoin (BTC) and gold trended higher on Tuesday while stocks fell under pressure after the earnings report from ASML Holding (ASML) was accidentally released early, showing a disappointing sales outlook for 2025. The price of ASML stock fell more than 16% in response and dragged down Nvidia (NVDA) and AMD (AMD) shares with it, which put pressure on the major indices.
Platinum and palladium look like we are bouncing back as there are more questions about the future of electric cars.
Zero Hedge Reported that “Germany’s car manufacturing giant BMW is warning that an EU ban on the sale of gasoline and diesel cars from 2035 is “no longer realistic” amid slow EV sales as the European auto industry will see a “massive shrinking” with such a ban.

European carmakers are already struggling with their EV sales as subsidies in many countries are coming to an end and Chinese low-cost vehicle makers are gaining market share.
Last year, the EU member states approved an emissions regulation under which the block will end sales of new carbon dioxide-emitting cars and vans in 2035.
The rules target 55% CO2 emission reductions for new cars and 50% for new vans from 2030 to 2034 compared to 2021 levels, as well as 100% CO2 emission reductions for both new cars and vans from 2035.Under the regulation, the European Commission will assess in 2026 the progress the EU has made in achieving the target. The Commission will decide whether the targets need to be reviewed.

But BMW’s chief executive Oliver Zipse said on Tuesday at the Paris Automotive Summit that the ban “could also threaten the European automotive industry in its heart.” The current regulations will “with today’s assumptions, lead to a massive shrinking of the industry as a whole,” Zipse added, as carried by Bloomberg.
The long-term story on copper is still very bullish. We are getting ready to trade the swings, but we look for a good long-term opportunity in copper developing.

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