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Gold/Mining/Energy : Copper - analysis
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To: Archie Meeties who wrote (219)12/10/2000 12:23:37 PM
From: tyc:>  Read Replies (1) of 2131
 
Do housing starts indicate the future, or do they simply reflect the present state of demand for copper ?

My "thesis" is pretty sterile, but it just seems to me that the price of copper moves according to perceptions of where the economy is going rather than according to any reality.

AG and central banks have been intent on slowing the growth in world economies to sustainable levels. Apparently they have been successful. However, recent declines in the price of copper suggest that people were FEARING this slowing of growth, despite the continued draw-down of inventories (reality). The movement of copper prices changed direction again only when Greenspan reassured them that if necessary he would re-stimulate growth with monetary policy.
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