The head of the RDIF called copper the new gold amid rising prices

The head of the Russian Direct Investment Fund (RDIF), special representative of the Russian President for investment and economic cooperation with foreign countries, Kirill Dmitriev, on his page on the social network X called one metal the new gold.

“Copper is the new gold,” Dmitriev wrote in response to the news that the exchange price of copper had reached a historic high.

On Tuesday evening, September 22, the price of this metal on the Comex exchange reached $6.903 per pound (about $15,211 per ton).

At the beginning of September, copper prices were $14,635 per ton. The reason for the increase in cost was a supply shortage associated with the expectation of the introduction of duties on the import of refined metal in the United States. Since the beginning of the year, copper has risen in price by about 17 percent.