Commodity wrap: gold tops $4,800 on geopolitical jitters; base metals, oil climb
Gold prices reached a record high of $4,890.35 per ounce, driven by safe-haven demand amid geopolitical tensions, particularly regarding Greenland. Silver prices also remained near record highs. Oil prices rose due to a shutdown at two major Kazakh fields and ongoing geopolitical issues. Base metals, including copper and aluminum, showed strength, supported by a weaker dollar. Analysts are discussing the potential for gold to hit $5,000, while concerns about global growth and trade tensions may cap further gains in oil and other commodities.
