The metals saw a run-up in the month of November especially after the US presidential elections. The markets have gone into heavy profit-taking. The prices gained in double digits in the November month but saw a similar level decline in December. However, the fundamentals are still stronger and the tighter market, inflationary pressures, expectation of infra spending not just in US but in China and many parts of Europe and the stronger economic data will continue to support the metal prices. Speaking to CNBC-TV18, Jonathan Barratt, Economist & CIO, Ayers Alliance says that people are focussing on profit-taking in metals as the year is coming to an end. Further, he said metals can see a correction of 5-8 percent.He also said that with the new administration coming in after US elections, it will be very supportive of the domestic policy, very supportive of an export policy and as a result of that they are having a strong dollar policy. There might be softening of strong dollar policy into weaker dollar policy and that will suppport the metal prices, he said.The top picks of Barratt in the metal space are copper and silver. Watch video for more...
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