Base metals, and copper in particular, are leading the commodities rally. Both breaking out to new 52 week highs, and above trend. The “inflation” Bulls are doing a cubicle dance. Copper is outperforming gold on a relative strength basis.
The two stock charts below show the breakouts: The Base metals (DBB) ETF, and, The Copper (CPER) ETF.
And a relative strength chart, copper (CPER) is trading 7.7% above gold (GLD), over a 200 day average, in the lower panel.