March 10, 2026

Market Overview 04-03-2026 to 10-03-2026

Period of Stability in the Precious Metals Markets

Last week, precious metals markets experienced slower price growth and consolidation. A partial reduction in geopolitical threats and a weakening US dollar contributed to contradictory price movements and partial stabilization. Observing price changes and decisions in the raw materials supply chain, some analysts see the possible beginning of a more stable period.

The global gold price increased only minimally between March 4 and March 10. On March 10, the price of gold reached USD 5,178 per troy ounce. The average gold price in March stands at USD 5,145 per troy ounce.

The consolidation of gold prices is partly driven by calming statements regarding the US–Israel–Iran conflict. On Monday, US President Donald Trump stated that the war in Iran would be concluded in the near future.

In interview given to CBS News, Trump also suggested that the war in Iran was almost completed. Providing a more detailed comment on the situation, the US president stated: “Their missiles are down to a scatter. Their drones are being blown up all over the place, including their manufacturing of drones. If you look, they have nothing left. There’s nothing left in a military sense.”

It appears that markets are gaining clarity not only from the situational overview of the war in Iran but also from serious US intentions to restore oil extraction and transportation operations in the region. When asked about the Strait of Hormuz — the main oil transportation route in the Persian Gulf — Trump stated that he is considering taking control of the strait.

The global silver price increased by more than 6.6% between March 4 and March 10, reaching USD 89.1 per troy ounce. The average silver price in March stands at USD 85.85 per troy ounce.

Hopes for a quick end to the war in Iran are significantly contributing to the rise in silver prices. In response to optimistic statements by Donald Trump, the US dollar experienced a correction. Given that precious metals (gold, silver, etc.) are denominated in US dollars, the weakening of this currency temporarily makes silver a more attractive investment alternative for holders of foreign currencies.

Silver is a precious metal actively used not only in the financial sector but also in industrial production. For this reason, its prices are much more influenced by the global situation in the extraction and supply of essential raw materials. As markets reacted to Trump’s optimistic comments and statements that Washington is considering lifting oil-related sanctions on certain countries, the price of crude oil recorded a sharper correction. This result is a particularly favourable factor for silver price growth and consolidation at higher levels.

The global palladium price increased by more than 1.9% between March 4 and March 10, reaching USD 1,705 per troy ounce. The average palladium price in March stands at USD 1,686 per troy ounce.

The global platinum price increased by more than 2.7% between March 4 and March 10, reaching USD 2,224 per troy ounce. The average platinum price in March stands at USD 2,173 per troy ounce.

The global copper price recorded minimal changes between March 4 and March 10; on March 10 the copper price reached USD 13,133 per tonne.