Outlook

Gold extended declines, approaching a nine-month low as the pace of US vaccine rollouts and plans for further stimulus boosted bond yields and the dollar. Bullion is heading for its first quarterly decline since 2018 amid a nascent global recovery that’s reduced the haven appeal of the metal. In recent weeks, its price has mostly treaded water, but faces renewed pressure from a resilient dollar and rising bond rates. A selloff in exchange-traded funds backed by gold is further eroding support. “We see increasing rates and a stronger dollar from Biden’s...

Fitch Solutions expects nickel demand for EV battery manufacturing to experience an annual average growth rate of 29.2% over 2021-2030—outpacing demand for both lithium and cobalt. This estimate is a significant increase from the market analysis firm’s 2018 forecast, due to upwards revisions in its EV sales forecasts. Nickel demand will be supported by the metals persisting popularity in battery cathode chemistry, with downside risks caused by concerns over future supply availability, Fitch said. Fitch bases its forecast on the underlying assumption that NMC 811 cathodes will rise to 80.0% of NMC...