Wall Street traders are turning to precious metals as uncertainty over trade policies drives investors toward safe-haven assets. Gold has surged 27.5% this year, silver is up 24%, and platinum has skyrocketed 36%, dramatically outperforming the S&P 500’s modest 3% gain.
The metals rally reflects investors’ search for alternatives amid tariff concerns and a weakening dollar. Gold remains the primary safe haven, hitting near-record levels above $3,300 per troy ounce, driven by both investor demand and central bank purchases. Silver has benefited from its dual role as both a precious metal and industrial commodity used in solar panels and data centers. Platinum’s impressive gain stems from supply deficits and renewed interest from Chinese jewelry buyers.
These “politically neutral” assets offer protection against uncertainty without the counterparty risks of bonds or currencies, making them increasingly attractive hedges in today’s volatile market environment.