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$5 a pound copper this year?
Posted:
Sun Apr 10, 2011 9:31 pmby PennyPauper
Post your thoughts and comments or research if you would like to share.
Many analysts see a 18% gain by years end,taking the metal over the $5/lb mark.
It would take the copper metal value of US pre 82 cents to .0325,not counting the zinc value.
Could we soon see $100 copper lots selling over 2x face value,or more,as the norm?
With the dollar continuing to slip,and other commodities prices rising out of reach of average investors,does copper become a safe haven,along side gold and silver?
Re: $5 a pound copper this year?
Posted:
Sun Apr 10, 2011 9:46 pmby hobo finds
Yes it will, but which will happen first 5$ gas or 5$ CU?
Re: $5 a pound copper this year?
Posted:
Sun Apr 10, 2011 9:50 pmby dakota1955
If most people think copper will go over 5 why then are we selling now?
Re: $5 a pound copper this year?
Posted:
Sun Apr 10, 2011 9:53 pmby Tourney64
Copper is an industrial metal. Worldwide economic turmoil will hurt copper prices.
Re: $5 a pound copper this year?
Posted:
Sun Apr 10, 2011 9:59 pmby John_doe
Tourney64 wrote:Copper is an industrial metal. Worldwide economic turmoil will hurt copper prices.
Not evryone is hurting right now, some countries are thriving. Most are not, but china alone is consuming more copper than the world produces.
Re: $5 a pound copper this year?
Posted:
Sun Apr 10, 2011 10:04 pmby pennypicker
[/quote] china alone is consuming more copper than the world produces.[/quote]
On the other hand China is raising interest rates to slow down their economy. Because of this some economists think copper will fall in value this year.
Re: $5 a pound copper this year?
Posted:
Sun Apr 10, 2011 10:59 pmby PennyPauper
What about Japan's needs for rebuilding?
Re: $5 a pound copper this year?
Posted:
Sun Apr 10, 2011 11:12 pmby Morsecode
It's only another 10% move to $5. It could get there easily enough. Maintaining, maybe not.
If there is any formal announcement for the discontinuation of minting them, I could see cents selling 3x for a while regardless of spot copper (unless it completely tanks) if for no other reason than mass hysteria.
Re: $5 a pound copper this year?
Posted:
Mon Apr 11, 2011 6:21 amby Lemon Thrower
i'm not super bullish on the base metals like i am for the pm's. but $5 is only 10% away. we will see that much of an increase in the general commodities index alone, and a similar decrease in the value of the dollar is not unlikely. so $5 is possible but i dont' see copper going to the moon like silver will.