February 24, 2026

Market Overview 18-02-2026 to 24-02-2026

Unexpected Price Surge in the Precious Metals Market!

Last week, the precious metals market entered a new period of price growth. The return of investors to precious metals was driven both by chaotic shifts in U.S. trade relations and by sharp statements from political leaders regarding ongoing geopolitical crises. As gold and silver demonstrate signs of recovery, the question arises – could this optimism trigger a broader growth wave?

The global gold price increased by more than 3.8% from February 18 to February 24, reaching USD 5,167 per troy ounce on February 24. The average gold price in February stands at USD 4,966 per troy ounce.

A more pronounced recovery in the gold market was triggered by developments in the U.S. trade war sphere. The U.S. Supreme Court officially ruled that the “reciprocal” trade tariffs imposed by D. Trump were illegal.

Reacting to this decision, last Friday U.S. President D. Trump announced the introduction of a new 10% trade tariff. The very next day, on the social network “Truth Social,” Trump stated that the 10% global tariff would be immediately increased to 15%.

Amid growing chaos and uncertainty surrounding the new trade order, a White House official provided further clarification – the newly effective trade tariff will begin at 10%. It was also emphasized that the Trump administration seeks to raise the new tariff to 15% through a separate executive order and presidential approval. No exact date for when this could occur was provided.

The global silver price rose by more than 12.5% from February 18 to February 24, reaching USD 86.88 per troy ounce. The average silver price in February stands at USD 80.58 per troy ounce.

Silver price growth is driven not only by trade-related chaos in the U.S. market. Investors’ attention is also turning to U.S.–Iran negotiations.

The second round of talks held last week in Geneva did not produce tangible results. Nevertheless, Iranian President Masoud Pezeshkian stated that the nuclear negotiations are showing “encouraging signals.”

However, as the countries prepare for the third round of negotiations scheduled for this Thursday, extremely high geopolitical tensions are being recorded. It is observed that the U.S. is rapidly building up military capabilities near Iran. Last Thursday, D. Trump stated that Iran has 10–15 days to reach a nuclear agreement. Otherwise, according to the U.S. president, “really bad things” will happen.

The global palladium price increased by more than 2.3% from February 18 to February 24, reaching USD 1,754 per troy ounce. The average palladium price in February stands at USD 1,720 per troy ounce.

The global platinum price rose by more than 3.1% last week, reaching USD 2,147 per troy ounce on February 24. The average platinum price in February stands at USD 2,106 per troy ounce.

The global copper price increased by more than 2% from February 18 to February 24, reaching USD 13,117 per tonne.