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Will copper prices soar in the long term? BHP Group Ltd: The AI wave will intensify the copper shortage.
①Although the global copper market is currently in a phase of weak demand, mining giant BHP Group Ltd. warns that future copper demand will largely skyrocket due to the artificial intelligence wave; ②BHP Group Ltd. warns that copper is a key metal in the transition to clean energy, and the development of artificial intelligence will exacerbate the copper shortage issue.
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Technology stocks led the S&P to four consecutive gains, Oracle reached a new high after hours, the US dollar and US bonds fell, gold hit a new high, and commodities rose.
In August, the PPI in the United States showed a cooling down of inflation, and the market slightly raised its bets on the Fed's aggressive interest rate cuts. US stocks rose together, with Nvidia up nearly 2%, while NIO Inc and XPeng fell more than 5%. The European Central Bank cut interest rates for the second time this year, but maintained a restrictive policy. European bonds fell, and the euro rebounded from its four-week low. Commodities rose across the board, with US oil briefly rising by 3.7%, gold reaching a new high with a nearly 2% increase, palladium rising by over 4%, and copper experiencing its largest two-month increase.
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Europe Natural Resources Fund: Global stock markets are beginning to experience sharp declines. Buy gold in segments after each sharp decline.
It is possible that the US stock market will peak this month (if Trump is elected, there may be a honeymoon period of about six months for the US stock market), and gold may be used as a cash machine, bringing down the price of gold when the stock market falls.