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Copper Set for Best Month in a Decade as Speculators Pile in – Bloomberg

  • Prices are rising as global demand shows signs of recovery
  • Deutsche Bank says metals surge has overshot fundamentals

Copper, seen as a barometer for the global economy, is on a tear. The metal is headed for the biggest monthly gain in a decade as investors flock back to commodities even as some banks warn the rally has gone too far.

Sometimes referred to as having an economics Ph.D for its ability to track the economy’s health, copper has surged 21 percent in November, and neared a 17-month high after better-than-estimated U.S. data on durable goods and manufacturing Wednesday. The rally prompted Deutsche Bank AG and Goldman Sachs Group Inc. to warn that prices have overshot fundamentals.  Read More…