Gold and Silver Exploded—Now Copper May Be the Next Big Trade

Impact · against what's priced in

The identified structural copper deficit and inelastic AI-driven demand provide a strong catalyst for FCX and SCCO, shifting the investment thesis from cyclical GDP growth to tech-infrastructure growth. While precious metals may be peaking, copper is positioned as a relative value play with significant upside due to the supply-demand mismatch.

FCX+0.80: No priced-in read yet
In context: FCX provides direct leverage to a forecasted 304,000 tonne refined copper deficit for 2025/2026 and emerging price-inelastic demand from AI data centers.
Read from the article alone

Gold and Silver Exploded—Now Copper May Be the Next Big Trade

data centers
ai
fed
COPX
FCX
SCCO
commodities
copper
gold
mining
precious metals

Gold and Silver Exploded—Now Copper May Be the Next Big Trade

What matters in this story

Wall Street split on gold following Dems' midterm rout, Main Street bulls emboldened after post-election price rally

Gold and Silver Exploded—Now Copper May Be the Next Big Trade

What matters in this story

Wall Street split on gold following Dems' midterm rout, Main Street bulls emboldened after post-election price rally

How each ticker is affected

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Gold and Silver Exploded—Now Copper May Be the Next Big Trade

What matters in this story

Next reads from the same story arc

Wall Street split on gold following Dems' midterm rout, Main Street bulls emboldened after post-election price rally

Gold and Silver Exploded—Now Copper May Be the Next Big Trade

What matters in this story

Next reads from the same story arc

Wall Street split on gold following Dems' midterm rout, Main Street bulls emboldened after post-election price rally

How each ticker is affected

Connected tickers

Track these names every morning.

Jensen Huang Says AI Needs 1,000 Times More Power. Here's Why Oklo and NuScale Power May Still Suffer.

What Gold Fields (GFI) Said on Its Q3 Earnings Call

What Allied Gold (AAUC) Said on Its Q3 Earnings Call

OpenAI reportedly raises an additional $11 billion at a $1.25 trillion valuation