Safe-Haven Assets: Precious Metals Shine Brighter Than Ever

Gold and silver prices hit new records this week, reaching an all-time high of over $5,000 and over $100 per ounce, respectively. Precious metals, such as gold, silver or platinum, have recently reaffirmed their status as safe-haven assets, with their price trends reflecting global economic uncertainty, geopolitical tensions and shifting monetary policies.

While the most popular of all, gold, has experienced a remarkable rally over the last twelve months, with an average monthly value surging from over 70 percent, the explosion is even more impressive for silver, despite its lower value. Silver's price went from around $30 per ounce on average in January 2025 to $90 per ounce this month (average as of Jan. 28), a gain of nearly 200 percent (or triple). Those surges reflect both their safe-haven status, fueled by persistent geopolitical instability, and a growing industrial demand, especially for silver in technologies like solar panels and electric vehicles, while supply shortages and speculative interest have further amplified price movements.

Platinum, though less prominent than gold or silver, has also seen a significant price appreciation recently, mostly driven by supply deficits (sanctions on major producers like Russia) and industrial demand, especially in the automotive sector. From $955 per ounce in January 2025, platinum's price has risen to nearly $2,400 per ounce on average this month, an increase of around 150 percent in twelve months.