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Copper breaks from gold amid supply tightness, Otavio (Tavi) Costa notes

Copper breaks from gold amid supply tightness, Otavio (Tavi) Costa notes
Copper and gold diverge on supply tightness

Otavio (Tavi) Costa, portfolio manager at Crescat Capital, observes a significant divergence between copper and gold prices.

While factors like AI, industrial demand, and onshoring contribute to the trend, Costa highlights that a tightening supply-demand imbalance is the main force driving copper's performance. He notes that metals typically do not remain disconnected for long.

Costa has previously called attention to a breakout in the metals and mining ETF, led by gains in copper miners. He has also observed that silver miners could benefit from wide margins as selling prices far exceed production costs. Both trends reflect ongoing activity in the metals sector.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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