Asian Metals Market Update for 7th February 2024
It is a wait and watch for traders of gold silver and copper. The trend is slightly bullish. But whether the reversal from Monday’s low is a bearish market rally or a real trend reversal to bullish will be known only by Friday. China taking urgent steps to prevent short selling in Chinese stocks should be a bullish sign for copper, zinc, aluminium, and silver. Gold rose as the price did not fall below $2020.
Short selling has been huge in China. Stock lending for short selling has been the norm for the past one year in China. But short selling is not advisable for the common man. Short selling is a way to con the common man if the same is against fundamentals.
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