The Metals Report: Christopher, you believe that the market will recover in 2013. Why?
Chris Ecclestone: We'll have a different type of recovery than we've had in the past, when everything was driven by the financial industry and house price inflation. The U.S. keeps driving along the edge of the cliff like Thelma and Louise, but never actually going over.
I get the feeling that there will inevitably have to be a recuperation. The ducks are in the row now for an industrial recuperation probably a construction-led one. I'm not talking about a rip-roaring recovery, but there is such a delicate balance in base metals between supply and demand that it doesn't take much recovery to vacuum up lingering stocks and tip the markets back into a deficit situation again.
TMR: The Dow Jones Industrial Average is a couple of hundred points away from its all-time high. Do you get the sense that retail investor sentiment has changed? Continue reading "Chris Ecclestone: Gold Will Fall, Time to Switch to Specialty Metals?"