DiscoverThe Investment Perspective, with Ninety One#49 From safe haven to supply crunch: what’s driving gold and copper
#49 From safe haven to supply crunch: what’s driving gold and copper

#49 From safe haven to supply crunch: what’s driving gold and copper

Update: 2025-09-26
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Gold has surged past $3 700 an ounce and copper is climbing on tightening supply. From record central bank buying and ETF flows to mining disruptions and the spectre of a dollar bear market,

George Cheveley unpacks the forces reshaping precious and base metals markets.


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#49 From safe haven to supply crunch: what’s driving gold and copper

#49 From safe haven to supply crunch: what’s driving gold and copper