Gold, silver, and copper hit record highs on geopolitical turmoil and industrial demand.
Confidence in the dollar has fallen in the wake of US President Donald Trump’s renewed attacks on the Federal Reserve, Bloomberg reported, and investors are seeking haven assets. Goldman Sachs had forecast that gold might hit $5,400 an ounce by the end of 2026, but yesterday it reached $5,600.
Copper, already in demand for its uses in the energy transition, is also increasingly becoming a target of speculators, analysts told the Financial Times, with prices up 6% overnight. Silver, meanwhile, extended a “frantic” rise, up almost 60% since the start of the year.
