Metals took the spotlight in the third quarter, with silver and nickel shaking off worries over a slowdown in the global economy to score the largest percentage gains among major commodities since the end of June.
It’s been a strong year for metals, “but the drivers have been different,” says Gregory Leo, chief executive officer and head of Global Wealth Management at IDB Bank.
Nickel is “much more impacted by supply and demand,” he says, and while those factors also influence gold and silver, the two precious metals also respond to the market uncertainty and the U.S. dollar exchange rate.
In September 2017, Anglo Pacific Group PLC (LON:APF) entered into a royalty agreement with Brazilian Nickel Ltd (Brazilian Nickel) to acquire an initial 1% gross revenue royalty over the Piauí nickel-cobalt project.