Copper ETFs Return to Long-Term Trend | Page 2 of 2 | ETF Trends

Nevertheless, some warned that the recent gains could be short-lived as the weakness in the U.S. dollar may not last.

“I’m looking for a pullback here, I think it’s going to settle in a little bit,” David Seaburg, head of equity sales trading at Cowen, said on CNBC. “I think this spike is really predicated mostly on dollar weakness and hedge-fund short-covering here.”

iPath Dow Jones-UBS Copper Subindex Total Return ETN

For more information on the red metal, visit our copper category.

Max Chen contributed to this article.