https://thegoldandoilguy.com/wp-content/uploads/2019/08/1.png 328 850 admin http://www.thegoldandoilguy.com/wp-content/uploads/2014/11/tgaoglogo.png admin2019-08-12 23:01:542019-08-12 23:01:54All Eyes On Copper
All Eyes On Copper
Copper is a fairly strong measure of the strength and capacity of the global economy and global manufacturing. Right now, Copper has been under quite a bit of pricing pressure and has fallen from levels above $4.50 (near 2011) to levels near $2.55. Most recently, Copper has rotated higher to levels near $3.25 after President Trump was elected on November 2016, yet has recently fallen as trade and global economic concerns become more intense. This should be viewed as a strong warning sign that institutional traders and investors are very concerned that the future economic and manufacturing activities throughout the world are continuing to contract. Copper is used in various forms throughout all types of manufacturing and consumer products, such as computers, building & infrastructure, electronics, chemical & medical use as well as automobile and aircraft manufacturing. It makes sense that copper prices would be a leading indicator for much of the global economy and relate to economic output and capacity.