Commodities From Metals to Wheat Rally as Russia Faces Isolation
- New Western sanctions raise potential for supply disruptions
- Geopolitical tensions have “supercharged” gold prices: analyst
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Commodities from aluminum to wheat and gold rallied in a jittery start to the week, as traders grappled with a fraught geopolitical environment and an array of supply risks triggered by war in Ukraine.
Aluminum surged to a fresh record, while nickel rose and wheat advanced near its highest level in more than 13 years. Bullion -- a haven in times of international tensions -- climbed more than 2% before paring gains.