[MARKET ANALYSIS] Precious and base metals continue to make ATHs

Precious metals continue their ascent to ATHs, as trend purchasing and geopols keep the complex bid.
In more detail, spot gold made a fresh all-time peak at USD 4,639.89/oz, and has traded at elevated levels throughout the European morning. As for spot silver, the metal made a fresh ATH at USD 91.57/oz, before scaling back towards the USD 90/oz mark.
The week’s rise has been associated with a number of different factors, including; 1) Fed independence woes, 2) heightened geopolitical tensions between the US-Iran, US-Greenland and US-Venezuela, 3) cooler-than-expected Core CPI, weighing on the USD. Nothing really behind the overnight strength seen today, appears to be a continuation of the factors listed.
Base metals also followed the trend seen across the precious metals complex overnight, with 3M LME Copper also making a fresh ATH beyond USD 13.4k/oz, but has since scaled back to currently trade flat on the session. Elsewhere, 3M LME tin hits a new record above USD 51k/t on strong Chinese investor demand.