January 6, 2020 – Metals are rallying in the New Year, with silver breaking through $18.00/oz last week and gold closing at $1,554/oz – its highest close since 2013. The momentum followed through overnight with another 2% surge.

Open interest in the gold futures market – the number of active contracts – made new all-time highs. Demand for exposure to precious metals is on the upswing.

The prospect of war with Iran is driving safe-haven buying. Geopolitical worries will figure prominently in this week’s price action as well. However, such events have been short-lived in the news in recent years. If Iran does not escalate, the impact of the story on the markets may recede.



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