Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Nickel continues to shine brighter,
- Despite, yesterday’s large scale sell-off in metals, Nickel was positive on the close, and today, it is once again outperforming all.
- Nickel price was already at a six-month peak on Monday, and today, it is extending further gains,
|
Nickel |
13,537.50 |
1.94% |
|
Copper |
6,447.00 |
0.59% |
|
Copper |
2.925 |
0.52% |
|
Aluminum |
1,882.50 |
0.51% |
|
Tin |
21,537.50 |
0.28% |
|
Lead |
2,110.25 |
0.18% |
|
Silver |
15.123 |
0.12% |
|
Platinum |
838.8 |
0.06% |
|
Gold |
1,286.75 |
-0.06% |
|
Zinc |
2,739.75 |
-0.10% |
|
Palladium |
1,480.50 |
-0.61% |
- Fundamental supply/demand is fueling the rally in Nickel.
- According to data from the International Nickel Study Group, shows the nickel market is continuing its yearly supply deficit; the deficit was at 46,000 tons in 2016, 115,000 tons in 2017 and 127,000 tons last year.
- This year’s robust Nickel demand from Chinese steel mills suggest that 2019 will be another supply deficit year; fourth consecutive.
- A trade deal between the U.S. and China would push prices further.
On the other hand, Zinc is the weakest among the best metals,
- A bearish engulfing candle in the daily chart is likely to keep price depressed.
