$3,800.83
24h
-1.91%
6 Aug, 13:34
Tokenized gold positioned to rally with precious metals breakout
Bullish-10.14%
AI Summary
The author argues that copper's historical breakout, driven by AI demand and supply constraints, will lift gold and silver higher, with XAUT serving as the tradable vehicle for precious metals exposure.
Hong Hao @HAOHONG_CFA's speech carries increasing weight! 🧐
During the speech, he urged us to focus on AI-related commodity sectors, especially gold, silver, and copper!
On August 5, copper prices on the London Metal Exchange surged to $14,317 per ton, hitting an all-time high! Beyond the massive demand for AI copper cables and power transformers, supply tightness triggered by export disruptions in the Republic of the Congo also contributed!
Precious metals are often twin siblings; gold, silver, and copper mostly move in sync. Last year, gold led the collective rise in precious metals; this time, copper is poised to lead gold and silver skyward 🛫! Gold has already broken out (as shown in 👇 Figure 2). Stay tuned! $XAUT
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