ByMartina Castellanos,
Contributor.
Copper, gold and silver prices have climbed steadily this year as investors hedge against political instability and dollar weakness, and tightening supplies across major metals have added momentum to one of the strongest haven rallies in recent years, reports say.
Copper prices climbed to a record $11,485 per metric ton on Wednesday, according to New York Mercantile Exchange(NYME) data, after rising 34.1% so far this year.
This surge in price is likely due to AI data center buildouts and renewable energy projects tightening copper supplies typically used for electric vehicles and smartphones, per The Wall Street Journal.
