Precious metals rallied across the board, with spot silver rising above $83, up nearly 5% during the day
Silver continues to soar, with spot silver at one point reaching a high of $83.23 per ounce, an increase of 4.9%. Platinum prices rose 2.48% to $2,553 per ounce. Copper prices continued to rise to $12,133, while WTI crude oil rebounded, up 0.79% to $57.19
On Monday, the precious metals market showed a general upward trend, with spot silver leading the gains, and the industrial metals and energy markets also rising.
On Monday, silver continued its surge, with spot silver briefly reaching a high of $83.23 per ounce during the session, an increase of 4.9%, before retreating to $82.13 per ounce.
Gold also continued to rise, with spot gold increasing by 0.2% to $4543 per ounce, currently slightly retreating, while platinum prices rose by 2.48% to $2553 per ounce.
The industrial metals and energy markets also recorded gains, with copper prices continuing to rise to $12,133, and WTI crude oil rebounding, up 0.79% to $57.19.
In addition to the traditional positives such as expectations of interest rate cuts by the Federal Reserve and central bank gold purchases, the market is pricing in a new narrative—"commodity control." Goldman Sachs believes that metals are not only cyclical assets but also strategic assets. This shift in positioning reflects the increasing weight of geopolitical and supply chain security factors in commodity pricing.
The return on precious metals this year has actually outperformed the S&P 500 index, attracting funds concerned about technology stock valuations. Some investors view precious metals as the ultimate tool to hedge against the risks of the "AI bubble," driving funds from the stock market to the commodity market.
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