Amid rising global tensions, prices for gold, silver, copper, and tin have reached new record levels. This is reported by the Financial Times.
According to the publication, investor concerns regarding possible U.S. military intervention in Iran, as well as questions about the independence of the Federal Reserve System, are contributing to the rise in prices.
On Wednesday, the price of gold increased by 1.1 percent, reaching $4,641 per troy ounce. Since the beginning of the year, the value of this metal has risen by eight percent, and over the past two years, the price has doubled. Silver, in turn, has surpassed the $90 mark for the first time in history, rising six percent to $92.24 per ounce.
Record prices have also been recorded in the industrial metals markets: copper reached $13,407 per ton, while tin hit $54,760.
Helen Amos, an analyst at Bank of Montreal, noted that such a synchronous rise in prices for the four metals has not been observed in the past 20 years. She also expressed concern about the rapid pace of price increases, especially for silver, tin, and copper, which is causing alarm among institutional investors.
