The 2013 rally in the metals markets appears to have run its course. The metal markets are now flushing the weak traders out of their positions and, at least for the gold futures and copper futures market, setting up a new bottom to create a summer rally. In the past, we’ve discussed the rotation of money flow through the metal markets. There are four primary U.S. metal markets and the rotation between them hinges on expectations of inflation versus industrial production.
