fed ending easy money is having a big impact on metals, precious and base metals down sharply, copper spot is at $3.06, gold $1,298. Might be a good day to go to the yard before prices drop further. Escrap is basically going to get shut down if gold continues to drop, there comes a point when its not worth it to ship anything or buy anything and we are getting closer to that point. Or are we on the brink of a market crash and massive inflation pushing up metals, the weak economy and high unemployment make it look that way?
I am sure the yards are trying to dump inventory right now while it still has some value.
thoughts?
