Digging the Dirt: Thermal Coal, EU Steel and Gold’s Plateau: BI Replay

Bloomberg Intelligence Metals and Mining call with analysts Alon Olsha and Mike McGlone on Thursday, April 30th at 2 p.m. BST/10 a.m. New York. The discussion focused on thermal coal, EU steel and whether metals have reached a high-price cure. Gold, once a store of value, now trades at more than twice the volatility of the S&P 500, raising the question of whether it has reached an overextended plateau similar to 1980 and 2011. Copper stopped outperforming the S&P 500 in 2011, and that underperformance has accelerated since 2023. The call also examines whether the inordinate burden on the US stock market to keep rising is reshaping the outlook for metals and mining.