The yellow metal recorded a new high at the beginning of the European session today, Tuesday, Monday, February 19, to compensate for its losses recorded at the end of last week’s trading, benefiting from the US President’s statements, as it is now trading at $2943 per ounce, up 0.26% after testing $2947 levels earlier, while silver is rising by about 0.58%, trading at $33.06 per ounce.
The yellow metal and the rest of the metals have been benefiting since the beginning of the week from the continued repercussions of the ongoing tariff policies, the latest of which were US President Trump’s statements yesterday that he will impose a 25% customs duty on imports of cars, semiconductors and medicines.
In a related development, Goldman Sachs Group raised its target for gold to $3,100 per ounce in its latest forecast, compared to $2,025 to $3,000 in its forecast by the end of last year, as the investment bank indicated that sustainable demand from central banks will add 9% to the price of gold by the end of this year.

The markets are awaiting the minutes of the US Federal Reserve’s previous meeting at the end of today’s session, in which interest rates were left unchanged.

Platinum, in turn, is trading at $980, down by about 0.67%, while palladium is down by about 0.13%, trading at $985.