Jonathan Barratt, CIO of Probis Securities, in an interview with CNBC-TV18, said the gold prices were dragged higher by the palladium market.
Speaking about gold prices, Jonathan Barratt said, “Gold has certainly benefited ... I get a sense it has been dragged up by palladium and when I see the palladium price in the way it moves - palladium seems to be leading and gold and silver seems to be dragged up as a result. Remember in palladium, we do have quite a deficit in supply there, close to a million ounce.”
Talking about industrial metals, he said, “We are being quite bullish on industrial metals. When you look at the copper market, we are still expecting a deficiency in terms of its supply and I think at the end of the day, a lot of people have focused on the trade tensions. But I sort feel that we will get a result of some sorts."