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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InPrecious metals surged as investors sought safety amid escalating geopolitical tensions between the US and Iran. Silver prices successfully reclaimed the $80 per ounce level, driven by a significant increase in safe-haven demand. Simultaneously, gold prices consolidated their position above the $5,000 per ounce mark as the market evaluated the latest US economic data. In the energy sector, oil prices are on track for sharp weekly gains, despite a slight retreat during Friday's trading session. Conversely, industrial metals faced pressure, with the London Metal Exchange Index (LMEX) dropping approximately 6% since late January. This decline in industrial metals is attributed to the holiday season in China and a notable rise in copper inventories.