Oil prices climb toward the $66 per barrel level as markets react to escalating geopolitical tensions in the Middle East. Comments from U.S. President Donald Trump indicating that support for Iran is already underway add to concerns about potential supply disruptions and regional instability.
At the same time, investors rotate aggressively into safe-haven assets. Gold and silver both reach new all-time highs, extending a powerful rally driven by geopolitical risk, inflation hedging, and defensive positioning. Silver outperforms, continuing its sharp surge after months of constrained supply and rising industrial demand.
The synchronized move across energy and precious metals highlights how quickly commodities reprice during periods of geopolitical stress, reinforcing their role as hedges during heightened uncertainty.