Ira Epstein discusses the current state of the metal markets and broader economic indicators in his Metal Market Wrap-Up. He highlights the recent consumer confidence data, which has hit a 12-year low, and its impact on the stock market, noting a surprising resilience in both stocks and metals despite bearish trends. Epstein outlines upcoming economic reports, including the PCE index, jobs data, and GDP figures, which are expected to influence market movements. He also touches on factors like the lack of hurricanes due to a Super El Niño and developments in Canada’s LNG sector. Additionally, Epstein provides technical analysis on gold, noting its bearish trend with key resistance levels identified.
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