People tend to get preoccupied with things that are shiny. Investors often fall prey to the same instinct – especially those that are obsessed with gold. Such people are often referred to as ‘Gold Bugs’.
This years, Gold Bugs have been excited to point out that gold has outperformed the S&P 500 index year-to-date:
Congratulations! However, there is a far more interesting metals trade going on at the moment: base metals.
After a slow start to the year, base metals such as copper (sometimes referred to as “Dr.Copper”), zinc, and nickel have seen their prices appreciate significantly: