Copper should outperform gold as the copper/gold ratio points to a bottoming process. Copper feeds industry, from wiring and EVs to renewables and construction, so demand surges in economic expansions, while gold, a safe haven, lags in risk-on periods. Gold has already gone parabolic, and buyers now face major resistance, so it likely won't run much higher. Copper can rise meaningfully without gold. x.com  x.com  x.com  x.com  x.com  x.com  x.com 

Copper, along with gold and silver, has been building tremendous underlying strength while everyone hated metals and focused on semiconductors. Metals did not make new lows during the last ten weeks of neglect, and industries can swing quickly from hated to loved. x.com 

Copper will follow the AI trade lower, making it a good catch-up short. x.com 

Copper and base metals look bullish on currency debasement and years of copper deficits. x.com  x.com 

Copper prices will have to rise as demand is expected to grow significantly over the coming decade and global supply is expected to be 70% short by 2040. Per Chamath, copper is set to go absolutely parabolic as the most useful, cheap conductive material, used in data centers, chips and weapons. It is also a great macro hedge right now and a favorite long-term safe-haven pick, with ETFs preferred and COPX the current favorite. A reply warns full LME warehouses could bring a correction. x.com  … Show more

Copper's rally is driven mainly by financial players rather than physical demand, making it unsustainable in the short term. Inventories keep rising against the shortage narrative, commercial hedgers are near multi-year shorts while CTAs hold multi-year highs, and China's credit impulse is deteriorating. The cycle and seasonality point to a peak in late August or early September, and a weekly rising wedge signals exhaustion. The long-term picture stays bullish after a reset into Q4 or Q1 2027. … Show more

Wall Street has not priced in that the world could be short 10M metric tons of copper by 2040 without many more major discoveries. x.com 

Copper shorts are making a risky bet as Shanghai and London report record-low copper inventories. Guided by the White House, shorts are piling in on the view that inventories will be allowed to run to zero before anyone buys. x.com  x.com 

Copper is not a bullish play, as it is arguably used more as a transitional tool over the next two years. That holds even though NVIDIA's CEO said they will need more copper, alongside optics and CPO. x.com 

Copper could see extreme demand from the AI buildout over the next few years, enough that $8,000 may end up being the Wave 5 target zone. x.com