Metals Market Report: Gold, Silver, Platinum All Post Strong Gains

February was a good month for metals with the Global Precious Metals Monthly Metals Index rising 7.36%. Gold continued its record-breaking run, reaching $2,942.70 per ounce, prompting major institutions to raise their forecasts – UBS now projects a peak of $3,200, while Goldman Sachs targets $3,100 by year-end.

Silver has also shown significant strength, climbing to $32.80 per ounce on combined safe-haven and industrial demand.

Palladium led percentage gains with a 9.17% increase to $976 per ounce, despite facing market uncertainty from Trump Administration tariffs and production changes at Sibanye Stillwater.

Platinum maintained steady growth with a 6.63% increase to $965 per ounce, supported by projected supply deficits through 2025 and growing automotive and industrial demand. The overall market strength reflects ongoing economic uncertainties, geopolitical risks, and strong central bank buying activity.