Capital Economics: What do lower oil prices mean for industrial metals and gold

Capital Economics: What do lower oil prices mean for industrial metals and gold? The conventional wisdom is that lower oil prices will add to the downward pressure on the prices of other commodities, many of which have indeed weakened. But while this may continue to hold true for other energy prices and some agriculturals, we expect the boost to global economic activity to mean that cheaper oil turns out to be a net positive for the prices of industrial metals and for gold. (Source: Canaccord, Capital Economics)