Market Report

Learn more about all important trends in the precious metals markets in our market reports on a regular basis.

Heraeus Precious Appraisal

Gold price consolidation continues – while Supreme Court's tariff ruling adds new uncertainty

No. 07 | 23rd February 2026

Gold is consolidating as a stronger dollar pressures prices, though future Fed rate cuts may help. Ghana’s gold output surged. Silver prices jumped and retail buying spiked. Platinum demand may stabilize slightly as automotive players like Stellantis leans back into diesel. Palladium miners focus on dividends amid output risks at Nornickel. Iridium and ruthenium demand remains strong in electronics and data center applications.

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