Safe-Haven Demand Pushes Precious Metals Higher Amid Fresh Market Pressures

Tuesday morning’s fresh quotes reveal a striking divergence in commodity markets as geopolitical tensions and economic data catalyze sharp moves across precious metals and base metals alike.

Economic Data Reshapes Market Sentiment

Fresh Commerce Department releases Tuesday morning painted an intriguing portrait of U.S. economic performance. The third-quarter GDP expansion reached 4.3%, substantially outpacing economist expectations of 3.3% and marking an acceleration from the second quarter’s 3.8% growth rate. This robust expansion contrasts sharply with durable goods orders data, which showed a 2.2% monthly decline in October—a steeper pullback than the 1.5% decline economists had anticipated. The prior month’s reading was revised upward to 0.7%, compared to the initially reported 0.5% increase.

Precious Metals Rally on Multiple Fronts

These economic cross-currents arrive alongside escalating geopolitical complexities. Investor risk-off sentiment has intensified as US-Venezuela tensions mount and prospects for near-term resolution of the Russia-Ukraine conflict diminish. The convergence of these factors has ignited classic safe-haven buying across the commodity complex.

Gold futures trading for February delivery climbed $49.40, or approximately 1.1%, to settle at $4,518.80 per ounce, reaching fresh record highs in the process. Silver demonstrated even stronger momentum, gaining $2.030 or 2.96% to $70.595 per ounce. These advances reflect not only safe-haven flows but also a weakening dollar, which has rendered bullion more attractive to international investors.

Dollar Weakness Amplifies Commodity Strength

The U.S. Dollar Index retreated by 0.33% to 97.97, providing additional tailwinds for dollar-denominated commodities. This weakening currency environment typically bolsters precious metals demand while simultaneously benefiting other hard assets.

Base Metals Reach Historic Milestones

Beyond precious metals, copper surged past the $12,000 mark for the first time ever, driven by persistent supply constraints and mounting uncertainty surrounding tariff regimes. This milestone underscores how multiple market forces—both macro-structural and policy-related—are reshaping commodity valuations in fresh morning quotes and ongoing trading sessions.