John Carl,
Editor
Sept. 27, 2024
Metals are on the move.
Earlier this week gold hit $2,706+ during intraday trading, shattering all previous highs and proving once again that the price has no intention of staying put.
My prediction of $3,000 gold this year is now becoming more and more likely — and the key fundamentals (global uncertainty, central bank buying, a retreat from treasuries) continue to push in favor of high prices.
I’ve written to you in previous weeks on how my colleague Gerardo Del Real is positioning himself for gold, and what he’s buying now to maximize his profit potential from these gains.
But gold isn’t the only metal that’s pushing toward new highs.
Copper is also gaining strength.
Can America Put an End to China’s Copper Dominance?
China has a stranglehold on the world’s refined copper…
- China is hoarding copper in preparation for a trade war with America
- China is bullying Taiwan with its copper reserves as a pre-invasion threat
- China is manipulating public stockpiles to arbitrage global demand and shore up their manufacturing shortfalls
America has been stuck playing along — until now.
New technology is finally restoring America’s resource independence. American copper can now go directly from the ground to 99.99% pure copper plates that our industries need most. Let me show you why this new technology is such a gamechanger for copper (and why early investors will mint fortunes).
Just last week it reversed its 3-month trend and is now solidly moving into bullish territory.
It rose to $4.63 a pound this morning (a YTD gain of 19%) and is now on a trajectory to head toward its $5.20 high from earlier this May.
And the fundamental circumstances for copper have changed — they’re even more favorable than they were several months ago.
The first big change comes from China, which remains the world’s largest producer, which has 54% of the market locked up tight.
China is overhauling its commodity stockpiles, and everything they’ve done over the past sixty days suggests that they could be positioning for a trade war with America:
- As reported by Bloomberg, they’re hoarding copper in secret stockpiles (as well as other commodities, including everything from steel to grain)
- They’re once again making aggressive statements about Taiwan, and its copper reserves factor in as part of pre-invasion preparations
- They’re manipulating public stockpiles to arbitrage global demand and shore up manufacturing shortfalls
If China continues down this path it’ll lead to global copper shortages, especially for America, which remains too dependent on China’s supply.
But China’s bellicose behavior isn’t the only reason for copper’s movement.
We’re also seeing an uptick in copper demand from the explosion in demand from AI.
Over the past two years AI has grown from a billion-dollar side project to a trillion-dollar titan.
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And every single part of the AI equation involves more copper.
- Copper is the #1 material in the power grid, power lines, and power stations
- Copper is the #1 material used in all data center components, from the power supplies, to the wires, to the rack components.
- Copper is the #1 material used in the chips themselves
As you might expect, availability and purity are a top concern for AI chip manufacturers.
Copper has been an afterthought for decades, but that’s all changing due to the steep increase in demand. (You can find out more about this massive market shift in my new presentation on copper.)
The need for more metals continues to grow — and 2024 is shaping up to be a record-breaking year for resource investors.
Make it your own,
John Carl
Editor, Daily Profit Cycle