Yeliz Akmaca 
Uncertainty over US tariffs has driven investors toward safe-haven assets. Gold rose about 1% on Wednesday, trading at $5,198 per ounce, while silver reached a three-week high with a 3% gain.
Why Gold and Silver Are Rising
Platinum and palladium also climbed, testing three-week peaks, with platinum reaching $2,244.85 per ounce and palladium $1,811.37 per ounce. These gains reflect both trade uncertainty and geopolitical risks.
The US has temporarily imposed a 10% global import tariff, with plans to raise it to 15% according to White House officials. The Supreme Court had previously struck down parts of former President Donald Trump’s measures, creating confusion over tariff policy. Investors have turned to gold in Asian markets to hedge this uncertainty.
Gold had reached its highest three-week level earlier in the day, but profit-taking pushed it down, closing the previous session more than 1% lower. Analysts note that gold’s upward potential remains as long as US fiscal and trade policy uncertainty persists. Analyst Rodda said, “The potential for further gains in gold remains high, especially if US fiscal and foreign policy actions continue.”
Two US Federal Reserve officials said there are no short-term plans to change monetary policy. According to CME FedWatch, the market currently expects three 25-basis-point rate cuts this year.
Geopolitical Developments Driving Metal Prices
Geopolitical developments are also affecting metals. President Trump’s Tuesday remarks outlining potential action against Iran and preventing nuclear weapons created market volatility. Sources close to the talks indicate Iran is nearing an agreement to purchase anti-ship missiles from China. Iran and the US will hold the third round of nuclear talks in Geneva on Thursday.
Metal Futures – Spot and Futures (February 25, 2026)
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Palladium: $1,837, +19.3 (+1.06%), volume: 608
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Gold: $5,213.5, +37.2 (+0.72%), volume: 25,101
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Platinum: $2,282.9, +95.6 (+4.37%), volume: 4,974
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Silver: $90.47, +2.964 (+3.39%), volume: 7,174
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Copper: $5.963, +0.033 (+0.55%), volume: 2,120
Spot silver rose to $89.92 per ounce, a three-week high, following Monday’s two-week peak. Platinum and palladium showed similar momentum.
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