Gold rises 1.1% in spot trading

February 25, 2026 / 10:25 PM

Sharjah 24: On Wednesday Gold rose as investors sought havens amid concerns that tariffs and US-Iran heated tensions.

By 1624 GMT, spot gold was up 1.1% to $5,205.14 per ounce, and U.S. gold futures for April delivery rose 0.9% to $5,224.60.

Bart Melek of TD Securities, said, "There is an inflationary effect from the tariffs and higher oil prices, especially if an attack is imminent, and I think there is also some hedging by investors who may turn to gold."

The US imposed, no long ago, 10% tariffs on imports worldwide, with intentions of raising to 15%. President Donald Trump stated that the lots want the current tariffs agreement. He also mentioned a potential strike against Iran, reinforcing his position not allowing Iran to obtain nuclear weapons.

Prices hit a record high of $5,594.82 on January 29 and are up about 20% so far in 2026.

Spot silver rose 3.8% to $90.67 an ounce, its highest level in three weeks.

On January 29, silver hit an all-time high of $121.64.

Spot platinum went up 6.5% to $2,308.60 an ounce, its highest level since January 29, and palladium gained 2.7% to $1,816.26.