Five metals stocks to buy as a way to buffer inflation during an economic bounce are benefiting from rising prices for metals such as gold and steel.
The five metals stocks to buy are climbing after record-setting prices worldwide for copper, iron ore, steel and aluminum, according to BoA Global Research. Those prices have jumped more than 20% above their average for the past 10 years, the investment firm stated in a recent research report.
The annual inflation rate in the United States soared to 4.2% for the 12 months ended April 2021, rising from 2.6% for the 12-month rate in March and 1.7% in February, according to U.S. Bureau of Labor Statistics data. The 4.2 percent increase reported in April marks the largest jump for a 12-month period since a 4.9-percent spike for the 12 months ended September 2008, the agency reported.
CARTOONS | MARGOLIS & COXThe trend should continue since is likely that growing inflationary pressure may not ease “imminently,” BoA reported in its May 25 research note. Management at some of the metals companies have reported that they plan to protect their margins by raising prices, if needed.
