Moreover, Goldman believes that as China shifts from government spending and investment-fueled growth to private-sector consumption, the country’s copper demand will continue to fall.
Earlier in July, Deutsche Bank also cut its copper projections due to weak Chinese demand. DB also expects rising supply in 2016 on new mine commissions, which could cause copper to “remain vulnerable to periodic bouts of ‘shorting.’” [Long Slump for Copper ETFs]
Market Vectors Gold Miners ETF
Tom Lydon’s clients own shares of GLD.