New york: Precious metals, including gold, silver, platinum, and palladium, experienced significant selling pressure during the 100-day period of the US-Israel-Iran war, amid sharp market fluctuations. The onset of the conflict at the end of February reversed the record highs these metals had seen in January.

According to Anadolu Agency, concerns over the war intensifying inflationary pressures fueled hawkish expectations from the Federal Reserve, leading to a sharp decline in metal prices. Escalating tensions in the region, coupled with an uncertain trade policy environment, raised fears that rising oil prices could further exacerbate inflationary pressures.

Inflation concerns led to rising bond yields, which put additional pressure on commodities. Investors, seeking to avoid risks, opted for liquidity, thereby strengthening the US dollar. This shift in investor sentiment resulted in sharp declines across silver, platinum, and palladium, three metals widely used in the industrial sector.

Gold, which began the year at $4,313 per ounce, hit a record of $5,600 in January. The positive trend continued into February, with gold ending the month at $5,263 per ounce. However, developments in the Middle East led to a significant drop in March, with gold ending the month at $4,667, marking an 11.32% decline. By June 5, the price of gold had fallen to $4,328.6 per ounce, a 17.8% decrease from pre-war levels.

Silver, an essential metal for industrial applications, started the year at $71 per ounce and reached a high of $121.7 in January. It ended February with a gain at $93.8 per ounce but fell sharply in March, closing at $75.1. By June 5, silver had dropped to $67.9 per ounce, marking a 27.6% decline versus pre-war levels.

Platinum began 2026 at $2,054 per ounce, reaching an all-time high in January. It closed February at $2,366.5 per ounce but fell 17.2% over the 100-day period, ending at $1,960.1 per ounce. By June 5, platinum was down to $1,779 per ounce, a 24.8% decline compared to February 27.

Palladium started the year at $1,603 per ounce and saw gains in January and February. However, March saw a 17% drop, and by June 5, palladium had decreased to $1,232.3 per ounce, representing a 31.1% decline from pre-war levels.