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Dear Wealth Daily reader:
Gold has made some big gains in the wake of the hurricanes. The yellow metal rose to a 17-year high last Thursday at $475.70/oz.
Since then gold has been inching its way back down. By lunchtime today October futures fell over $8 to $458.5. 
Today’s cooling off came as energy prices eased and the dollar firmed from hawkish comments from Fed members.
This correction, however, should be limited given the uncertainty in energy regarding refining capacity and oil production.
Copper Rally
The story of copper is virtually a chronicle of human endeavor since man emerged from the Stone Age. Copper was first used by man over 100 centuries ago. A copper pendant, discovered in what is now northern Iraq, has been dated about 8700 B.C.
For nearly five millennia copper was the only metal known to man, and thus had all the metal applications.
Copper has been traded by man since that time. And it was yesterday that the yellow metal became more valuable than ever.
Yesterday copper futures touched a record high of $1.74/lb and have increased 28% in the past 52 weeks.
But I believe that the metal going higher in the next couple years for one major reason: the continuing demand for copper for use in construction.
47% of US Copper is used in construction mainly for plumbing, and conducting electricity.
Due to the devastation left behind by hurricanes Katrina and Rita, Copper rose over 7% from last week the wake. As the affected states begin to rebuild, the demand for copper is likely to increase.
And let’s not count out our friends to the east.
China, the world’s largest consumer of the metal, boosted its copper imports by 64% last month as the country continues its economic expansion. 
China’s imports of refined copper and copper alloys rose to roughly 279 million pounds in August, up 19% from July.
In an August report, Morgan Stanley said Copper demand may exceed production this year by 170 million pounds. Consumers may have to use stockpiles to fill the deficit.
But that might not cut it. Stockpiles monitored by the London Metals Exchange are 11% lower than a year ago.
Need Help Buying Canadian Stocks?
Contact Mike Bruin @ Canaccord Capital Corp.USA Inc.
mike_bruin@canaccord.com
Phone 1-800-663-8061- ext. 7438 –USA
Direct Phone (604) 643-7438
– Luke Burgess
