Precious Metals Hit Record Highs as Investors Rush into Safe Havens

Prices for the main precious metals reached historic highs by the end of the week as investors actively redirected funds into defensive assets.

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Platinum

An additional driver was the weakening of the US dollar on global currency markets. As a result, demand for precious metals rose sharply, triggering a rapid upward move in prices.

Silver Sets an Absolute Record

Silver delivered the most impressive performance. During trading, its spot price climbed to $99.34 per troy ounce, marking a new all-time record. Since the beginning of the year, silver has gained approximately 37 percent.

This growth significantly outpaces most other exchange-traded assets. Previously, silver was primarily viewed as an industrial metal, widely used in electronics, energy, and medicine. Recently, however, investor interest has increased markedly.

Gold Confirms Its Role as a Safe Haven

Gold also renewed its historic high. During the trading session, the spot price rose to $4,967.03 per ounce. Since the start of the year, gold has gained around 14 percent, showing more moderate growth compared to silver.

Gold traditionally serves as a core defensive asset. During periods of instability, investors rely on it to preserve capital. Current market dynamics confirm that this role remains intact.

Central bank policy provides additional support. Expectations of interest rate cuts continue to sustain demand for gold.

Platinum Joins the Rally

Platinum also reached record levels. During trading, its spot price climbed to $2,684 per ounce. Over the first three weeks of 2026, the metal has risen by approximately 30 percent, making this one of its fastest rallies in recent years.

Platinum is used both as an investment asset and in industry. A significant share of demand comes from the automotive and chemical sectors, while constrained supply adds further pressure to the market.

Broad-Based Strength Across the Metals Market

The precious metals market as a whole is displaying elevated volatility. Market participants react almost instantly to news flows. A weaker dollar makes metals more affordable for buyers outside the United States, providing additional price support.

Under these conditions, even traditionally less popular metals are attracting fresh investment inflows.

Alongside gold, silver, and platinum, investor attention is also focused on palladium. Although its price dynamics remain more restrained, it continues to play a key role in the market. In recent months, palladium prices have fluctuated at elevated levels.

Demand is primarily driven by the automotive industry, while the market remains highly sensitive to production and inventory data. Any supply disruptions can quickly affect prices.

Economic Uncertainty Fuels Demand

The current rally in precious metals reflects broader global economic conditions. Inflation expectations remain high, and risks of economic slowdown persist.

Against this backdrop, investors favor assets with limited supply. Precious metals meet this criterion, as they are not dependent on corporate earnings or government debt obligations.

Whether record price levels will be sustained depends on several factors, including geopolitical developments and currency market trends. Decisions by major central banks will also play a decisive role, as changes in interest rates can reshape demand for defensive assets.

Nevertheless, current data indicate that the precious metals market has entered a phase of heightened investor focus, making it one of the most closely watched segments of global financial markets at the start of 2026.