Commodity Prices Surge as US-Iran Tensions Push Gold Above $5,000 and Oil to 6-Month Highs

Commodity markets witnessed a significant rally as escalating geopolitical tensions between the US and Iran triggered widespread concerns over global energy supplies. Oil prices, including WTI and Brent, surged by more than 1.5% to reach their highest levels in six months. In the precious metals sector, gold prices achieved a historic milestone by surpassing the $5,000 per ounce mark, driven by intense safe-haven demand. Copper prices on the London Metal Exchange (LME) also showed resilience, recovering toward $13,000 per ton despite thinner trading volumes during the Lunar New Year holiday. Investors are closely monitoring the political landscape and its potential impact on supply chains, alongside upcoming US economic data releases. This broad-based surge reflects a clear shift in market sentiment toward defensive assets and strategic commodities amid heightened uncertainty.