Commodity rally spreads past oil, hitting 2012-era highs

The commodity surge is no longer just about oil. Copper, zinc, gold and silver are all climbing alongside energy, pushing the Bloomberg Commodity Index to its highest level since 2012. That rising-metals wave lifts miners like Freeport-McMoran Inc. (FCX) and gold plays such as SPDR Gold Shares (GLD). The flip side: higher raw-material costs threaten company profits, and stocks in the State Street SPDR S&P 500 ETF Trust (SPY) are slipping as an inflation scare spreads past crude.