Copper Prices near 30 Month Highs

Whilst Gold is the hot commodity in 2020 right now, the red metal (Copper) has been slowly building momentum upward and has broken out to almost 30 month highs in the last 24 hours and continues that trend again tonight to $3.19 US a pound.

Therefore Copper is back above the $7,000 per tonne mark, this is significant and a bullish signal.

The market seems to not value what copper Hammer is currently sitting on in Qld, nor the potential should a few more decent copper hits be discovered up there in Mt Isa.

I do like gold but I also like copper and given trends that have been well discussed previously about coppers demand in the renewable energy sector and space and electric vehicles demand IMO this will only increase further in the near term future.

However with Covid and a global pandemic gripping the world some people are now looking back to the future for old solutions.

Copper does have healing/anti bacterial/virus effecting properties that scientists have been studying for some years, this due to its sub atomic chemistry, ie coppers electrons damage the viruses/bacteria.

They don't fully understand how copper kills viruses and bacteria.

But copper's special chemistry is the key. It appears that atoms can physically drift from a copper surface into the cell membrane of a bacterium, or into the outer coating of the virus particle.

OK so what does it mean for copper, well IMO it increases the demand for medical applications/equipment and everyday objects that require touch or high traffic interactions/touching like door handles, rails, lift buttons etc.

If the benefits of copper reduce infections of bacteria/viruses in the clinical environment the applications might be unlimited, even however the initial costs of the product may be higher than other cheaper materials.

But if it saves lives and reduces infections eg in nursing homes then it is money well spent. ...JMT.

Hopefully Hammer hits not just the golden stuff but some more of the red metal as well, as they say in the classics- Timing is everything.

Here’s hoping it might just be ...Hammer’s time!

Good luck to all holders ...My fingers and toes are crossed.

Cheers Aussie