Copper Prices Rise on Positive US Manufacturing Data
Jun 2nd, 2008 | By Contrarian Profits | Category: Featured, Financial NewsCopper prices have risen in London trade on news that US manufacturing data contracted less then expected in May.
This from Casey Research:
“‘Copper’s fundamentals this year are very supportive — this is a market in deficit. We would expect to see any further drop from these levels as being short-lived,’ said Gayle Berry, metals analyst at Barclays Capital.
“Taking all this into account, Barclays Capital analysts wrote that, ‘Our expectation for softness in copper prices has been realized and we view dips below $8,000 a ton as a buying opportunity given tightening concentrate supply.’ Copper was at $7912/ton [on Friday].”
Read on here for a great way to play copper’s rise with this emerging markets blue-chip.
Advertisement
Stocks have been hammered for the past 5 years – down 10% according to the S&P 500 index.
Gold, meanwhile, is up about 100% during that time.
What few Americans realize, however, is that there's a unique gold investment, created and issued by the U.S. Treasury Dept., which skyrockets AFTER gold prices soar.
Last time conditions were this good, it went up 665%... and it's beginning to soar again right now.
Click here for full details...