Putin’s special envoy points to copper as “new gold”

Kirill Dmitriev, Russian President Vladimir Putin’s special representative for investment and economic cooperation with foreign countries and head of the Russian Direct Investment Fund (RDIF), believes copper has become the new gold.

“Copper is the new gold,” he wrote on X, pointing to the metal’s recent surge in value.

Copper futures for December 2026 delivery on the Comex exchange hit a record high on September 22, according to trading data. Later that evening, copper futures were up 2.44% at $6.9275 per pound.

By Jeyhun Aghazada