Precious Metals Prices

Precious metal prices increased 3.3% month on month in February, following January’s 13.2% rise.

The average price of precious metals rose in February, extending the streak of uninterrupted monthly gains observed since the start of 2025. That said, prices increased at the slowest pace in three months, as only one of the four precious metals tracked by our panel gained ground in February. Average gold prices rose on strong safe-haven demand amid uncertainty after the Supreme Court struck down U.S. import tariffs and geopolitical frictions increased in the Middle East. Less positively, pricing for the three other precious metals declined, as traders booked gains early in the month and escalating Middle East tensions raised fears over industrial demand. However, silver subsequently regained some ground in late February amid still-tight supply.