Copper Surpasses Gold as Industrial Demand Soars

Copper futures have hit an all-time high of $6.95 a pound in September 2026, outperforming gold for the first time this year.

The industrial metal has had a remarkable year, rising nearly 20% and closing in on its strongest year on record with a gain of over 46%.

This surge is largely due to Michael Burry's copper bet and tightening supply, as well as demand tied to artificial intelligence (AI) data centers.

Burry noted that new copper deposits take roughly 18 years to reach production, while AI data centers add fresh demand within two to three years, highlighting the metal's growing importance in the industry.