Gold, silver, copper surge as explosive rally sweeps over metals market

Core Insights - Precious metals, including gold, silver, and copper, have experienced significant price increases, with gold futures reaching $4,650 per troy ounce, marking a 5% year-to-date gain [1] - Analysts from UBS and Citi predict that gold could reach $5,000 per ounce in the coming months, with silver potentially hitting $100 per ounce, although corrections may occur later in the year [2][3] - The surge in metal prices is attributed to geopolitical tensions, supply deficits, and increased demand for hedging against macroeconomic uncertainties [4][5] Gold Market - Gold futures have climbed to $4,650 per troy ounce, reflecting a 5% increase since the beginning of the year [1] - UBS forecasts gold prices could reach $5,000 per ounce, with a possibility of climbing to $5,400 if political or financial risks escalate [2] - Citi analysts share a similar outlook, suggesting gold could hit $5,000 within three months [3] Silver Market - Silver prices have surged above $91 per ounce, pushing its total market value above $5 trillion for the first time [3] - The metal has increased by 20% since the start of the year, contributing to a nearly 150% rally in 2025 [4] - Concerns over supply deficits and recent export curbs from China have driven the price increase, with silver benefiting from both monetary and industrial demand [4] Copper Market - Copper prices have reached record highs, exceeding $6 per pound in the US and more than $13,188 per ton in London [5] - The increase is driven by concerns over potential import tariffs and an acceleration of shipments to the US, which has tightened global supply [5] - Goldman Sachs has warned of a potential pullback in copper prices, anticipating that tariff decisions may be delayed or not implemented [6]