Emre Yumlu 
Strong demand for precious metals continues to dominate global markets, pushing prices to unprecedented levels. Gold has broken above the psychological threshold of $4,500 per ounce for the first time, marking a historic milestone, while silver and platinum have also reached record territory. Expectations of further interest rate cuts in the United States, combined with rising demand for alternative stores of value, are reinforcing investor appetite across the precious metals complex.
Gold Breaks Above the $4,500 Level
Spot gold surged to an all-time high of $4,525.19 per ounce during early trading, before stabilizing around $4,492.51, still reflecting a modest daily gain. Momentum was equally visible in derivatives markets, where February U.S. gold futures advanced by 0.3% to reach $4,520.60, setting a new record.
This move suggests that the rally is not merely driven by short-term speculation, but by broader macroeconomic expectations, particularly around monetary easing and long-term currency stability.
Silver and Platinum Join the Rally
Silver prices have maintained a strong upward trajectory alongside gold. After previously touching a historic peak of $72.70, silver climbed another 1.2% to trade near $72.27 per ounce.
Platinum also posted notable gains, briefly testing a record level of $2,377.50 before settling around $2,351.05, up 3.3% on the day. Palladium followed the broader trend, rising nearly 2% to $1,897.11, its highest level in approximately three years.
Growing Appeal as “Neutral Store of Value” Assets
Beyond traditional safe-haven demand, precious metals are increasingly viewed as neutral stores of value in a world marked by geopolitical tension and weakening globalization. As concerns over sovereign risk, global debt accumulation, and trade friction intensify, assets such as gold and silver are gaining prominence for their independence from political and fiscal systems.
This perception is further strengthened by ongoing U.S.–China tensions and expectations that declining interest rates will continue to support non-yielding assets.
Exceptional Annual Performance Across Metals
Year-to-date, gold has gained more than 70%, marking its strongest annual performance since 1979. Silver has significantly outperformed, posting gains exceeding 150% over the same period. Platinum has risen by roughly 160%, while palladium has advanced by more than 100%, supported by supply constraints and renewed investor interest.
Despite potential short-term volatility, the broader trend suggests that precious metals may remain well-supported as macroeconomic uncertainty persists.
This content is for informational purposes only and does not constitute investment advice. Financial markets involve risk, and individuals should conduct their own research before making investment decisions.
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