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Copper as economy sage fails as growth defies slump: Commodities

Posted on 21 March 2014

Copper, dubbed by traders as the metal with the economics Ph.D., may need a new nickname. While the world economy is forecast to expand by the most in three years, the metal that former Federal Reserve Chairman Alan Greenspan said he once considered a useful indicator is plunging.
Prices in New York are off to the worst start to a year since the Comex futures debuted in 1988. In the past 16 quarters, copper moved in the same direction as global gross domestic product just six times. In December, its correlation to the Standard & Poor’s 500 Index was the lowest since 2008………………………………………..Full Article: Source


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