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....
Read the full article on Seeking Alpha
For further details see:
The Copper Bull: Speculation Vs. Fundamentals