Copper is becoming increasingly strategic to governments and industries as artificial intelligence, power-grid investment and defense spending increase demand for the industrial metal, investors say. The metal — a key component in electronics, construction and transportation, and often seen as a barometer of economic activity — has outperformed gold this year, as the need to secure reliable supplies has intensified. Copper has rallied 15.8% year-to-date, and is up more than 30% over the past 12 months. By comparison, gold futures have slipped 4.11% year-to-date, and are down 4.52% over the past 12 months. Spot gold is 4.89% lower over the past 12 months, and 4% down year-to-date.
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