Moody's raises target price for metals.

Fitch International Ratings has stated that the average price of metals in 2026 may be higher than initially expected. The company has raised the target prices of 14 different metals and minerals this month. The biggest increases were for gold, rhodium, lithium, and cobalt. While gold hitting historic highs in the past year has been a major focus of the market, trading for other elements has been more subdued, with lower volumes. According to FactSet data, rhodium is the most expensive precious metal in the world, currently trading at $11,500 per ounce. Lithium and cobalt are both traded on the London Metal Exchange.