Sure, gold’s shocking fall has grabbed the headlines but the more worrying move for global growth hopes is the behaviour of copper futures prices. Of all the commodities copper retains its status as best ‘growth barometer’ for macro watchers and it’s not just China sending out disappointing messages. The chart below shows copper hitting an 18 month low and is sourced from FinViz:
That’s a 25% fall since February alone and suggests a significant change in economic conditions or expectations through Q1.
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