Commodity ETFs diverged today: Copper mining ETF rose over two percentage points, energy ETF rose almost two points, with copper and oil showing strength following soft landing expectations and geopolitical premiums. On the gold side, ChinaAMC Digital Gold rose slightly, E Fund Gold & Mining Fund barely moved, but gold ETFs themselves dipped slightly, with the gold price taking a breather these past couple of days😪
Industrial metals rising while safe-haven gold is pulling back precisely indicates the market is leaning a bit more risk-on today.
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