With rising copper prices, is it bound to go through the roof? Even if the market has it's ups and downs, I'm considering buying a large stock of copper for the future. i can't see copper depreciating by much in the future, as demand is only growing for it.
Copper interests me. At $3.82 a pound, you really can't go wrong with the price. Those who can't afford gold and silver will simply buy copper as an alternative. However, how much of a ceiling does copper truly have? Do you really see it hitting $10 a pound? A WSJ article mentioned, "That's not good for copper consumption either," said Sterling Smith, an analyst with Country Hedging. "We're probably overpriced compared to where demand should be and at this point I wouldn't be surprised if we came back to the $3.40 level." What are your current holdings?
The problem with copper is that it is not "per say" a precious metal. And usually goes down in an economic collapse. This is something to consider. I buy silver because it is used up in industry and it is a precious metal. While copper I cannot say the same thing for. But ultimately it is your choice.
I would rather stick with silver or gold. If you have less money to invest, then just buy smaller quantities. I think it's possible to buy just one gram of gold.
Yeah, copper can be a great alternative for those who can't afford to buy gold and silver.. But still, if investment is the thing, I suppose gold or silver is the best choice.
Right now Copper is trading at around $3.2 / lb. That means it has lost almost 20% of its value during the last 6 months. I think it will slip a bit further, before consolidating.
