The commodity markets are on a tear this year, with the precious metals like gold and silver trading at all-time high levels, poised for their best annual gains since 1979. However, not everyone was able to participate in this bull run in the bullion, creating a feeling of FOMO among investors.
Silver prices have surged over 170% in 2025 so far, while gold price returns stand over 70%. At current levels and after such a sharp run-up, some investors might turn wary of buying these precious metals, even though the fundamental outlook remains firm.
But, analysts believe there is another lucrative bet for them instead of gold and silver — copper.
Copper prices hit a record high
Copper prices have hit unprecedented highs above $12,000 a ton in the global market on fears over a tighter global market in 2026. Prices on the London Metal Exchange are now on track for an annual gain of about 40%, the biggest since 2009, according to a Bloomberg report.
Meanwhile, on the MCX, too, copper futures rose 1.34% to ₹1,168.70 per kilogram on Wednesday due to higher spot demand.
Tight mine supply, disruptions in key producing regions, and pre-emptive stockpiling amid trade and tariff uncertainty have collided with structurally rising demand from electrification, renewables, EVs, and AI-led data center expansion, said Justin Khoo, Senior Market Analyst – APAC, VT Market.
Further supporting the metals complex, the dollar was headed for its worst annual performance in more than two decades.
Khoo said that for investors who missed the sharp rally in gold and silver, copper is increasingly emerging as a credible alternative rather than a late-cycle chase.
How to invest in copper?
Kaveri More, Commodity Analyst at Choice Broking, remains bullish on copper, as she expected copper prices to reach ₹1250– ₹1300 per kilogram, bolstered by rupee strength and industrial recovery, though US tariffs, Fed cuts, and LME stocks near 100k tons warrant caution.
Key investment options include MCX Copper futures for direct leveraged exposure, ETFs for diversified mining plays amid production shortfalls, and NSE-listed copper-heavy stocks for lower-volatility Indian market synergy with domestic industrial tailwinds, opined More.
As per a Bloomberg report, Citigroup has advised clients that copper could hit $15,000 in a bull-case scenario where a weakening dollar and US interest-rate cuts further boost the metal’s appeal, prompting investors to more aggressively pile in.
However, Goldman Sachs analysts caution that surging prices so far have been driven by investor bets on future market tightness rather than today’s supply-and-demand conditions.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
