Copper futures surged above $14,000 per ton on the London Metal Exchange, approaching the highest levels ever recorded as tight inventories and robust demand tighten market balances. Traders point to ongoing production cuts in major mining regions and strong consumption from Asian manufacturers as the main catalysts.

ING strategist Manthey expects gold to navigate short-term volatility and climb to $5,000 per ounce by December, citing strong central bank purchases and investors’ search for inflation hedges as key support factors.