"In fact, after a brief pullback, gold, silver, and copper prices are soaring again. Gold is up about $58 today and could push even higher with growing geopolitical tension, economic uncertainty, expectations of further interest rate cuts, a weak dollar, and strong interest from central banks. Silver prices are up about $5 to $76.04. And copper - on pace for its best year since 2009 - is regaining momentum thanks to unstoppable AI demand, and supply fears."
"Goldman Sachs raised its copper price forecast for the first half of next year to an average of $10,710 a ton from $10,415 previously, citing constrained mine-supply growth and structural demand from grid and power infrastructure. It also said physical traders suggest copper shipments into the U.S. could accelerate more than expected in early 2026. Copper prices are also supported by growing expectations that the Federal Reserve will lower interest rates further this year."
Major U.S. stock indices are largely flat with the S&P 500 down roughly five points, the Dow down about 13, and the NASDAQ down about 44. Precious and industrial metals are rallying: gold is up about $58, silver is up about $5 to $76.04, and copper is regaining momentum and on track for its best year since 2009. Goldman Sachs raised its copper forecast to $10,710 a ton for early next year, citing constrained mine-supply growth and structural demand from grid and power infrastructure. Copper demand is further supported by expectations of Fed rate cuts and expanding use in data centers, which could grow sixfold by 2050 from roughly half a million tonnes today. Rocket Lab shares climbed after Needham raised its price target and the company won a prime satellite contract from the U.S. Space Development Agency.
Read at 24/7 Wall St.
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