Gold, silver and copper prices set records

Metals extended their dramatic start to the year — with gold, silver, copper and tin all hitting record highs — as investors bet on a boost from more US rate cuts and a revival in sentiment across Chinese financial markets.

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A jeweller arranges silver bars at his shop in Kuwait City on Monday.

(AFP)

Commodities have posted big gains since late 2025 as traders position themselves for a year in which the Federal Reserve is expected to cut borrowing costs further to bolster US growth. That’s aided the case for base metals, while precious metals are also benefiting from new attacks on the Fed by the Trump administration and rising geopolitical tension.

Silver jumped as much as 5.3% to top $90 an ounce for the first time yesterday, while gold notched another all-time peak. Tin was the standout among base metals and was up as much as 6% at one point, while copper also resumed its rally. Many metals are benefiting from prospects for better manufacturing demand, including in growth sectors like artificial intelligence.