Oil, gold and industrial metals leapt in Europe yesterday as investors scrambled for safety in solid assets after attacks on the US World Trade Center and other US landmarks sent equities and the dollar tumbling.
Oil and gold rose 6 per cent and prime industrial metal copper leapt 4 per cent. Stocks and the US dollar plunged and bonds climbed.
OPEC said it would guarantee "adequate" oil supplies to stabilise oil prices.
Gold prices shot higher, closing nearly 6 per cent or $16 an ounce higher to put the London benchmark afternoon fixing price at $287.00 from $271.40. It had hit £291 earlier in the afternoon.
The New York gold market Comex was in the World Trade Center Tower.
Base metals prices also jumped, with benchmark industrial metal copper rising to a daily high of $1,501 from Monday's $1,446 close before paring those gains in late afternoon.
