COM - The Copper Bull: Speculation Vs. Fundamentals

2024-05-23 09:15:00 ET

Summary

• Liquidated shorts from a flood of speculators, an AI bubble, a supply crisis, and a renewable energy craze have all combined with high global inflation to recently send copper to historic all-time highs.
• Copper went high enough to wreck a batch of short sellers who betted that the party was over.
• While the current narrative is that inflation is easing, any apparent relief from higher prices will be temporary.

By SchiffGold

Copper has gone mad : Liquidated shorts from a flood of speculators, an AI bubble, a supply crisis, and a renewable energy craze have all combined with high global inflation to recently send it to historic all-time highs. While I believe there will be major corrections as some of these factors come back down to earth , the most important one - out-of-control inflation - will ultimately send copper even higher in the longer term....

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