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Copper has grown at an average 4% rate every year since 1900, but it's still an often overlooked commodity. But copper is about to take off higher. Much higher. Copper is the forgotten precious metal.
But, it's also the metal that keeps the economy humming.
Copper consumption has grown at an average annual rate of 4% since 1900. China and India, needs loads of this element to meet its modernization requirements for electricity and infrastructure.
Copper is also used in today's currency, where most U.S. coins are actually 92% copper, and 8% nickel.
There's no denying that, given the choice, nearly everyone prefers gold. It's valuable, it's seductive and it's mystical.
But despite gold's much more vaunted history, copper - the much humbler metal - could be positioning itself to upstage gold.
Especially as Beijing calls for a new commodity backed currency. China's sitting on 38% of the copper market. Who's to say they won't push for a copper-backed international currency?
No matter what China does, copper demand isn't going to slow down anytime soon.
