Gold and copper are ripping higher — and the market is loving it.
Gold just broke above $3,050 after the Fed meeting, pushing to new highs. And copper? It’s now just 3¢ away from an all-time record.
That’s a big deal.
These two metals are often seen as economic barometers — gold as a safe haven and copper as an indicator of industrial strength. And right now, both are on the move.
Why Are Metals Surging?
A big reason is the Fed.
The central bank is signaling that economic growth is slowing down — which is rare for them to admit. And while they didn’t cut rates with today’s announcement, the market is betting they will soon.
For years, traders got used to near-zero interest rates.
And while I don’t think those near-zero rates are coming back anytime soon, lower rates make gold and copper more attractive compared to yield-based investments.
Can Stocks Keep Up?
The market is up today, but let’s keep things in perspective:
The S&P 500 is still 300 points below its monthly open. That’s a huge gap.
The real question isn’t whether we get a bounce today — it’s whether this rally has enough fuel to push all the way back up.
Remember what I’ve told you about the importance of opening numbers — daily opens, weekly opens and yes… monthly opens.
A Copper Trade You Don’t Want to Miss
With copper just 3¢ away from history, this move could be just getting started.
That’s why at tomorrow’s episode of my free Market Radar show, I’m giving away a free copper trade idea — if it clears this key level.
I’ll break it all down live — don’t miss it!
Click here to watch the on-demand replay!
Stay sharp,
—Geof Smith
P.S. Even better than gold and copper? Uranium. Take a look at this.
