The Financial Post reports in its Thursday edition that metals have extended their dramatic start to the year. A Bloomberg dispatch to the Post says commodities have posted eye-watering gains since late 2025 as traders position themselves for a year in which the U.S. Federal Reserve is expected to cut borrowing costs further to bolster U.S. growth. That has aided the case for base metals, while precious metals are also benefiting from renewed attacks on the Fed by the Trump administration and increasingly tense geopolitics. Silver jumped as much as 5.3 per cent to top $90 (U.S.) an ounce for the first time on Wednesday, while gold notched another all-time peak. Still, there have been voices of caution especially for industrial metals. Citigroup and Goldman Sachs, for example, both see copper prices retreating later this year. Chinese physical demand has been lacklustre since late 2025. "Haven" demand has also been aided by resident Donald Trump's capture of Venezuela's leader, his renewed threats to take Greenland and violent protests in Iran that could lead to a toppling of the Islamic regime there. Citi upgraded its three-month forecasts for gold and silver to $5,000 per ounce and $100 (U.S.) an ounce, respectively.