A flurry of speculation by futures market traders has pushed prices of metals such as copper and gold to all-time highs, as funds bet on upcoming shortages in supplies and try to hedge against inflation.
Copper has rallied 30 per cent since the start of March to break through $11,000 per tonne this week, its highest level ever. That has helped lift the prices of other industrial metals from aluminium to zinc.
The rush of investor buying has also pushed gold through its previous records to hit $2,450 per troy ounce and silver has followed to exceed $30 per ounce for the first time in a decade.
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