Copper Reaches 28-Month High at $4/Pound

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Dr. Copper seems to like what he (or she) sees in the Federal Reserve’s new plan to print hundreds of billions more U.S. dollars over the next eight months, the metal with a PhD in economics rising to the $4 a pound mark for the first time since early in 2008.

Though you wouldn’t know it from the above graphic, recall that commodity prices surged in early-2008 prior to the financial market collapse later in the year, metals reaching their highs in the spring (copper at about $4.25 in May) while energy prices peaked in July. The price of crude oil is worth keeping a close eye on at this point, however, the big difference between 2008 and 2010 is that, back then, it was run-away demand from Asia that threatened energy market stability. Today, it’s run-away money printing by the Fed.

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