One measure of investor apprehension is the VIX volatility index, also known as the fear index. The VIX spiked on Thursday to its highest level in three months. That coincided with a selloff on Wall Street, with tech shares getting hit especially hard. Commodities and precious metals markets also got hit. Also falling under selling pressure recently has been copper. The red metal is down more than 20% since peaking in May, though it remains up modestly for the year.
Given its much lower price by weight compared to gold and even silver, copper may not be as practical a metal to accumulate for wealth protection. It’s generally sought out by those with extremely limited budgets and by those who want to add some small-denomination units to a hard money barter stash. An alternative way to play copper is to buy silver. Like copper, silver is essential in EVs and electrical infrastructure.