Gold, silver, copper surge as explosive rally sweeps over commodities

Gold (GC=F), silver (SI=F), and copper (HG=F) climbed to new highs on Wednesday, extending an explosive rally to mark the first two weeks of January. Gold (GC=F) futures hit a high of $4,650 per troy ounce, marking a 5% year-to-date gain. Wall Street analysts upped their forecasts in recent days given the recent US intervention in Venezuela, geopolitical tensions with Iran, and growing questions about Federal Reserve independence. “We see bullion reaching USD 5,000/oz in the coming months amid hedging d ...