Copper and Gold Close In on Records as Metals Mayhem Continues
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 17 2024
0mins
Source: Bloomberg
- Copper and Nickel Prices Surge: Copper nears a record high in London, while nickel spikes almost 8% due to bullish investor activity and unwinding of bearish bets.
- Precious Metals Rally: Silver hits an 11-year high, gold approaches an all-time peak, influenced by the strong gains in copper.
- Factors Driving Commodity Prices: Commodities like silver are impacted by supply, demand, and price momentum, leading to significant price movements.
- Market Dynamics: Industrial and precious metals see increased investor interest this year, supported by macroeconomic conditions and tightening supply.
- Supply Disruptions Fuel Price Spikes: Traders caught off guard by supply disruptions in copper and nickel markets, leading to outsized moves as short positions are closed.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
