Gold prices climbed roughly 5% over a two-day stretch, while copper and tin moved closer to their record highs, according to a report from Stockbit Snips published Thursday.
The precious metal has been on a strong upward run, with multiple market observers tracking the momentum. A separate report from PT. Agrodana Futures noted that gold has broken through the $4,300 level, though geopolitical risks remain a concern ahead of the U.S. non-farm payrolls report scheduled for Friday.
Other analysts have pointed to different drivers. FXStreet Indonesia reported that gold was trading above $4,250 amid hopes for a potential agreement between the United States and Iran. Meanwhile, Kompas.com said the bullish momentum in gold prices appears to be continuing, based on its analysis of current market conditions.
The rally in gold has also drawn attention from investment platforms. Bareksa.com highlighted in its insight that as gold prices surge, yields on Indonesian government bonds, known as SBN, have been softening. The firm suggested investors keep an eye on both gold and fixed-income mutual funds as these trends develop.
The combination of rising commodity prices and easing bond yields reflects a broader shift in investor sentiment, according to the reports. Copper and tin approaching their all-time highs signals strength across industrial metals, not just safe-haven assets like gold.
For now, market participants are watching the upcoming U.S. jobs data, which could influence the direction of gold and other commodities in the near term.
