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Costs of each valuable and industrial metals are surging proper now. Listed below are two high FTSE 100 shares to think about within the present local weather.
Bullion growth
Gold costs have soared to new document highs of round $3,580 per ounce in latest days. I’m assured they’ll proceed rising as rising economic- and political-related considerations gasoline valuable steel demand from retail buyers.
Gold costs have additionally doubled in lower than three years. Swathes of analysts share my optimism that they’ll proceed marching northwards. Goldman Sachs, as an example, expects them to hit $4,000 an oz. by the center of subsequent 12 months. And in latest days, banks have mentioned costs may even attain $5,000 if fears over the Federal Reserve’s independence immediate heavy promoting of shares, bonds and the US greenback.
Buyers can capitalise on additional value rises by contemplating valuable steel shares similar to Fresnillo (LSE:FRES). This technique entails higher threat than shopping for bodily steel or an exchange-traded fund (ETF) that tracks the commodity value. However it will probably additionally present higher rewards, as producer earnings can develop stronger than the steel value when buyers pile into gold.
That is mirrored by Fresnillo’s 216% share value rise in 2025. That’s higher than the 35% improve in gold costs over the interval.
On high of this, holding gold shares usually gives an added bonus of dividend earnings. Within the case of this Mexican miner, the ahead yield for 2025 is a wholesome 3.1%. However do not forget that dividends are by no means assured.
I like this FTSE firm particularly as a result of it mines for gold and silver which gives diversification advantages. Whereas silver costs are additionally hovering (lately touching 14-year highs), do not forget that the gray steel can be used extensively in business, which may go away it weak if financial situations worsen.
Copper big
Copper costs have additionally loved robust good points in 2025, albeit by a extra modest 13%. Their ascension to round $10,000 per tonne has pushed Antofagasta‘s (LSE:ANTO) share price 34% higher since 1January, the copper miner (like Fresnillo) benefitting from the ‘leverage’ impact.
Within the quick time period, copper shares like this could possibly be weak to a pointy financial slowdown that impacts steel demand — and by extension, costs. Copper’s used extensively throughout many cyclical industries together with electronics, development and vehicles.
However I consider the purple steel will rise sharply over the long run, making Antofagasta — which is among the world’s high 10 copper miners by quantity — a high Footsie share to think about.
Analysts anticipate copper consumption to blow up as the electrical automobile (EV) and renewable vitality sectors quickly develop. Main provide shortages additionally bode properly for steel costs due to a dearth of recent initiatives coming onstream.
Antofagasta’s monumental scale places it in nice form to use any price-boosting copper shortages. Certainly, it’s searching for to lift annual output to 900,000 tonnes within the coming years due to asset expansions and new progress initiatives.
The Chilean miner produced 314,900 tonnes of copper within the first half of 2025, up 11% 12 months on 12 months.
