The price of gold, silver, copper, and tin all hit fresh highs on Wednesday, as investors rushed for safe havens amid concerns over geopolitics and the independence of the US Federal Reserve.
“There is no precedent that I can remember in 20 years” for all four to peak simultaneously, a commodities analyst told the Financial Times.
The specter of US military intervention in Iran following Nicolás Maduro’s ouster in Venezuela, coupled with the Trump administration’s probe into the central bank chair, has created an unusual physical metal stockpile in the US and set “the metals market on fire,” CNN wrote.
While gold is a traditional haven asset, it’s rare for base metals like copper and tin to be driven by geopolitical fears.
