Precious Metals Market Update: 2/13/2026

The precious metals complex staged a powerful recovery on Friday, February 13th, 2026, erasing much of the previous session's panic. The catalyst for the reversal was the release of the Producer Price Index (PPI), which came in significantly cooler than expected. The soft inflation data calmed market nerves following Thursday's liquidity scare, reigniting the "Fed Pivot" trade and sending the U.S. dollar lower. Gold surged over 2.6%, reclaiming the psychologically critical $5,000 level to close the week on a high note.

Silver joined the rally, rising nearly 3.9% to trade back above $78.00. The white metal benefited from renewed speculative appetite as fears of a hawkish Federal Reserve shift dissipated. The industrial metals were the day's top performers, with Palladium exploding roughly 6% higher in a violent short-covering rally. Platinum also posted strong gains, adding over 3.6% to retake the $2,000 handle. The broad-based advance suggests that Thursday's crash was a temporary liquidation event rather than a fundamental trend change, with investors eager to buy the dip at lower valuations.

Spot Precious Metals Prices

Key Drivers:

• Soft PPI Report: The primary driver for Friday's turnaround was the Producer Price Index data, which showed wholesale inflation cooling faster than consensus forecasts. This release directly countered the fears sparked by Thursday's "hawkish" speculation, reaffirming the narrative that inflationary pressures are subsiding. The data put the Federal Reserve back on track for potential rate cuts, crushing the dollar and lifting real assets like gold bars and silver.

• Technical Rebound & Short Covering: Thursday's extreme sell-off left the market technically oversold and heavily short. As prices stabilized early in the session, short sellers moved to cover positions to avoid holding risk over the weekend. This dynamic was particularly potent in palladium, where thin liquidity fueled a 6% squeeze, dragging the rest of the complex higher.

• Bargain Hunting: The dip below $5,000 in gold and $2,000 in platinum proved irresistible to value investors. Physical dealers reported strong interest at the lower price points, creating a natural floor. This accumulation by "strong hands" helped stabilize sentiment and encouraged momentum traders to re-enter long positions in silver coins.

Looking Ahead:

Investors head into the weekend with renewed confidence, though volatility is expected to persist.

• Fed Policy Clarity: With both CPI and PPI now showing disinflation, the market will look for confirmation from Federal Reserve officials next week. Any dovish rhetoric would likely cement the $5,000 level as a new floor for gold.

• Geopolitical Headlines: Traders will monitor geopolitical developments over the weekend. Any escalation in global tensions could provide additional safe-haven support for gold when markets reopen on Monday.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Market data and prices are subject to change.