Precious metals rose early in 2026 as investors continued their strong demand for safe-haven assets, Reuters reported. Gold, silver, platinum and palladium all climbed in early trading, extending the notable rallies these metals posted throughout 2025. The price strength came amid ongoing geopolitical uncertainty and expectations for lower interest rates.

Spot gold rose about 1.4% to around $4,372.35 per ounce, just days after hitting a record high near $4,550 late in December. Gold’s performance in 2025 was historic, ending the year with a 64% gain, the most since 1979 and far above typical annual returns.

💰 Silver Leads With Strong Growth

Silver saw some of the most dramatic price action, riding a 147% surge in 2025 and trading higher again to start the year. Prices climbed about 3.6% to $73.79 per ounce, supported by its industrial uses and increased investor interest. Silver’s strong gains were also influenced by its designation as a critical mineral in the United States, which boosted demand and further tightened supply.

Platinum and palladium also posted solid gains. Platinum rose roughly 2.5% to about $2,104.10 per ounce after a significant rally last year. Meanwhile, palladium climbed 2.4% to $1,641.92 per ounce, capping off a 76% gain in 2025, its best performance in 15 years.

📊 What’s Driving Metal Prices Higher

Market observers linked the renewed rise in precious metals to several factors. First, geopolitical tensions have continued to underpin safe-haven demand. Second, investors widely expect the U.S. Federal Reserve to cut interest rates at least once or twice this year, which tends to make non-yielding assets like gold more attractive. Finally, central banks increased their holdings of bullion, adding further upward pressure on prices.

Investors also pointed to strong demand from exchange-traded funds (ETFs) that hold physical metals. These funds have drawn inflows as traders seek to hedge against broader market risks. Moreover, thin trading typical of holiday weeks meant that even small flows could push prices higher.

🔎 Outlook for Metals and Markets

The metals rally highlights changing investor priorities as 2026 begins. While equities and bonds may respond more to economic data and rate policy decisions in the coming months, commodities like gold and silver remain in focus for those seeking stability.

Analysts say that if rate cuts do materialise, precious metals could stay elevated throughout the year. However, any unexpected tightening or shifts in economic growth could temper future gains.