Copper near 10-year high is too hot; look to gold for stable value - Bloomberg Intelligence

(Kitco News) - The copper market has been grabbing a lot of investor attention since the start of the year as prices have surged higher, culminating in this week's 10-year high.

However, one analyst is warning investors that the market is looking a little precarious and might want to look at stability in the gold market.

Mike McGlone, senior commodity analyst at Bloomberg Intelligence, noted that copper prices are benefitting from growing expectations that the U.S. economy will see a faster-than-expected recovery from the COVID-19 pandemic.