Global Metals Weekly Snapshot (Feb 23–28, 2026)
📌 This week was volatile as safe-haven flows returned amid renewed U.S. tariff uncertainty and persistent geopolitical risk, keeping precious metals firmly in the spotlight.
💡 Gold pushed through the $5,200 level and briefly traded around $5,247, reflecting defensive positioning against policy shocks and risk-asset pullbacks, while demand stayed steady rather than being driven by a single spike.
⚠️ Silver was the clear standout, jumping to around $93.20, supported by both hedge demand and a post–Lunar New Year rebound in industrial buying as Asian activity normalized, allowing silver to outperform gold on momentum.
🔎 On the industrial side, aluminum held firm near $3,106/tonne as supply remained relatively tight, inventories stayed low, and production disruptions kept the market sensitive, with electrification and infrastructure themes reinforcing sentiment.
⏱️ Copper stayed resilient around $6.02/lb, signaling continued preference for grid, EV, and energy-transition linked metals, even as short-term swings may follow U.S. macro releases that reshape rate expectations.
✅ Near term, the bias remains constructive for precious metals and supply-sensitive industrial metals, but sharp rallies can come with pullbacks tied to Fed messaging and inflation data, while some base metals still face oversupply risk and may lag.