Metals Dropping With a Leaden Thud

September 26, 2011
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The buzz has been around the huge price drops of precious metals, especially silver:

Silver is down over 48% from its peak with two full on crashes part of the damage.

More important however is the declines in the industrial metals. While gold and silver are dominated by speculative investment flows, industrial metals to industrial demand. Let’s look at copper:

Called “Doctor Copper” for its “PhD in Economics” Copper is generally seen by traders as a leading indicator of economic vigor. Nor is coppers weakness an isolated phenomena with industrial metals overall down over 25%. Via Cullen Roche we get this from Moody’s:

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