Jerome’s Red Metal and the Red Dragon. Manic Metals Report 01/29/2026

Did Fed Chairman Jerome Powell start a run on copper Bank? Yesterday, Fed Chairman Jerome Powell said that not only was the economy entering 2026 on a firm footing, but we had a clearly improved growth outlook, mainly driven by strong consumption factors such as artificial intelligence and data center buildout. At the same time, of course, when you think about that, one of the first things you think about is copper, and copper prices are exploding after the Fed chairman’s comments. As we have talked about for some time, copper may be the most important commodity in the world right now when it comes to the artificial intelligence revolution—and without copper, none of it will be possible. So even now, we’re seeing more investment in copper, and people who didn’t pay attention to copper are now focused on it. It’s going to be the key commodity to use for electricity. For the first time in history, electricity is becoming intelligent, and intelligent people realize that there is a fundamental shortage of copper right now.

Well, China got the Fed’s message memo! Copper absolutely went berserk, notching its largest one-day rally in over sixteen years as the manic metal’s maniac raged on. With action coming straight out of China. Chinese traders are surfing this momentum tsunami—everything from tin to silver is getting launched to all-time highs. The real fireworks happened when the Chinese market took the wheel: copper prices on the London Metal Exchange blasted up over 5% in under an hour, right as Chinese traders dominated the scene at 2:30 a.m. London time. That’s what you call a melt-up of the red metal courtesy of the red dragon.  Now the  March Nymex futures are at 6580—an incredible move.

And make no mistake about it, silver over 121 is another big surge. Industrial demand is driving the market as well as the weak dollar. Gold is getting some haven buying, too, with the increasing hot rhetoric surrounding Iran. Historic times for the metals—keep in touch, another call coming in, hold on, good morning,

Make sure you download the Fox Weather ap to check for that flip. Also stay tuned to the Fox Business Network Invested in you Call to open your account at 888-264-5665 or email pflynn@pricegroup.com.