LARGE RISK PACKAGE
The strong rise seen across precious metals this week signals a broader shift in which the fragmentation of global trade, persistent geopolitical tensions, and declining confidence in monetary policy are being reflected more clearly in prices. Rising tensions between the US and the EU over Greenland, debates about the independence of the Federal Reserve, and intensifying strategic competition have pushed precious metals higher overall. In addition, new military developments and security concerns in Syria have further increased an already elevated risk perception in the region, encouraging global investors to strengthen their safe-haven positions.
Gold is trading today at $4,715 per ounce and has clearly moved beyond its traditional role as simply a “crisis asset.” Central bank purchases, high global debt levels, and a persistent geopolitical risk premium continue to support gold. In this context, gold is more likely to maintain its upward trend, while any pullbacks may be seen as corrections within the broader movement.
Silver is trading at $94.27 per ounce, up 4.67%. This performance confirms ongoing tightness in the physical market while also showing that industrial demand remains strong. Although intraday volatility is high, price movements appear consistent with underlying fundamentals.
Platinum is trading around $2,386 per ounce. Its price movement should be viewed on two levels: on one hand, rising global risk perception is lifting all PGMs, while on the other, the launch of new PGM futures contracts in China and expectations around the global shift from fossil fuels to hydrogen are reinforcing platinum’s role as a strategic metal. In the same direction, palladium is trading at $1,848 per ounce.
On a day when rising US–EU tensions over Greenland and renewed security risks in Syria are both strongly reflected in prices, should we say that precious metals are reacting to individual crise — or are markets now pricing interconnected risks as one single, large “risk package”?