Gold and silver aren’t the only viable plays in the metals space – and they aren’t currently the leaders.
On Wednesday, both copper and platinum rallied up to multi-year highs. Rhodium, meanwhile, currently commands $21,000 per ounce – yes, per ounce – making it one of the most valuable elements on the planet.
What’s driving these “energy” metals? Besides ongoing currency depreciation and the risks of higher inflation, which will help boost all hard assets over time, rising demand for electricity in general and electric vehicles in particular.
President Joe Biden recently decreed that the federal government must transition its entire fleet of cars, vans, and trucks to electric motors.
Myanmar's military coup and declaration of a state of emergency has sparked concern in neighbouring China over metal and mineral supplies amid already high tin, copper and rare earth prices.