Unusually, copper and gold prices are rising in tandem
An uncertain and uneven recovery explains their skyward leap
THERE IS, SUPPOSEDLY, a neat choreography to copper and gold prices. When one rises, the other tends to fall. In an economic downturn, for instance, gold climbs as investors seek a haven. Copper prices dip as manufacturing and construction slow. But these are unusual times, and gold and copper are moving in unusual ways. Rather than continue their customary do-si-do, they are leaping upwards together.
This article appeared in the Finance & economics section of the print edition under the headline “Shining brightly”
Finance & economics July 25th 2020
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