The David Lin Report · Thursday, July 16, 2026
Kai Hoffmann elaborated on the divergence between copper and gold, stating copper is fundamentally driven with a massive need for electrification and data centers, while gold is more sentiment-driven, reacting to inflation and geopolitical news. He emphasized that copper's current price of over $6 a pound reflects its underlying demand, despite broader market volatility.
“So I think copper is more fundamentally driven. Yeah. That's why it's it's stayed where it's at. Like we're still over $6 a pound. Right. It's fairly strong given the price action. Although like the tech stocks have been come under attack recently. Uh, and and copper is still hanging in there. So there there must be more to the story. Uh, it's it's an emerging trend here. People love copper gold. Especially copper stories right now. So we're seeing there's a massive need for copper. So that's one side. Gold is more headline driven lately. Like it's reacting to potential inflation risks. Uh, it's it's really reacting to what's happening in the Middle East.”
“But overall, we need copper to electrify the world. We need copper, you know, for for everything. Even data center built out, everything. Like I'm repeating what a lot of your guests already saying, it's not news. But copper is fundamentally driven and needs that that feedback.”