In mid-July it’s not at all uncommon to see trading action become dull and listless. Traders are focused less on trading and more on family vacations and outdoor activities before school starts in late August. Barring an unexpected major event that rocks the market, look for more of the “summer doldrums” in metals over the next several weeks. Remember, too, that much of Europe takes off on vacation during the month of August. That means it may be until after the Labor Day holiday weekend in the U.S. that traders get back down to real business.
