The David Lin Report · Monday, June 29, 2026
Jeff Christian explains the recent divergence between copper and gold prices by highlighting copper's role as an industrial metal tied to the real economy and investor expectations, versus gold's function as a financial asset and currency hedge. He disputes the notion of 'Dr. Copper' as a consistently accurate economic predictor.
“So copper's acting like something that has to do with the real manufacturing economy. And gold is acting like a financial asset and and a currency hedge.”
“I have always pooh-poohed the idea of Dr. Copper. You can always find times when copper is a precur- copper prices are a precursor to strong economic conditions, but you can also find times when it isn't.”
“It is a good barometer of what investors think future economic activity will be, but as you and I know, investors often get it wrong.”