Gold, silver, copper and tin all punched through record highs on Wednesday, as concerns about US military intervention in Iran and the independence of the Federal Reserve helped them extend their recent, dramatic rallies.
Gold, which has doubled in price in less than two years and already surged 8 per cent since the beginning of this year, rose as much as 1.1 per cent to a fresh high of $4,639 per troy ounce, as investors hunted for haven assets. Silver broke through the $90 mark for the first time, rising as much as 5.2 per cent to $91.53.
Copper and tin, which have been rallying strongly in recent months, hit fresh highs of $13,407 and $52,495 per tonne respectively.
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