Copper Becomes The New Gold

Copper has risen over $1,100 a metric ton or 12.5% just since Forbes recommended its purchase barely a month ago. It has gained 28% in value since the start of the year. Goldman Sachs recommended copper– then selling for $8220 a metric ton–as the commodity to own in 2011– predicting its eventual rise to $11,000 a metric ton by the fourth quarter of 2011.

Forbes also recommended the shares of Freeport McMoRan as the preferred stock market play in copper. FCX rose to $116.20 yesterday on the NYSE, up $2.16 a share. The stock has soared over 35% just since October 1.