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Move Over Gold. Wood Is the Shelter of Choice in the Pandemic

  • Lumber futures soar as shut-in North Americans fix up homes
  • The building material is 2020’s top-performing major commodity
Home Prices In U.S. Poised To Slide Following Surprising Rally
Photographer: Ty Wright/Bloomberg
Updated on

As economies struggle to recover in the pandemic and U.S.-China tensions flare, investors piling into precious metals may be overlooking another potential haven: wood.

Lumber futures have doubled since early April and are the top-performing major raw material this year. Surprisingly, wood is even outshining gold and silver, traditionally the go-to haven commodities.