The metals market remained highly active as silver and lithium posted some of the biggest yearly gains across global commodities. Precious metals, industrial metals, and battery materials all continued to attract investor attention amid rising manufacturing demand and ongoing supply concerns.
Silver prices climbed to $77.23 per troy ounce and recorded a massive 138.52% yearly surge. Despite recent short-term weakness, the metal is still up 8.29% in 2026 so far. Gold also stayed firm above the key $4500 mark and traded at $4565.84 per troy ounce. The precious metal has gained 41.63% over the past year and remains one of the strongest safe haven assets in global markets.
Copper prices reached $6.26 per pound and continued to benefit from strong industrial demand. The metal is now up 35.20% year over year and has climbed 10.06% since the start of the year.
Silver and gold prices stay strong amid global market uncertainty
Gold and silver continued to dominate investor focus as volatility in global markets pushed demand for precious metals higher. Gold prices rose 0.39% during the session while silver jumped nearly 1.97% in a single day.
Analysts say central bank buying, inflation concerns, and geopolitical uncertainty are helping support gold prices near record levels. Silver meanwhile is seeing additional support from industrial demand due to its use in electronics, solar panels, and clean energy infrastructure.
Platinum traded at $1984.20 per troy ounce and showed one of the strongest yearly gains in the precious metals space with a 96.97% yearly rise despite falling on a year-to-date basis.
Lithium prices jump 200.63% as battery metals remain in focus
Battery metals continued to outperform broader commodity markets. Lithium prices in China surged to 191500 yuan per tonne and posted a massive 200.63% yearly increase. The metal has also climbed 61.60% in 2026 alone as electric vehicle demand continues to drive long term optimism.
Cobalt hydroxide traded near $56519 per metric tonne and remained relatively stable during the week. However, yearly gains still stood at 93.17%, reflecting continued demand from battery manufacturers.
Titanium prices traded at 48.50 yuan per kilogram and recorded moderate yearly growth of 5.43%. Silicon prices however remained under pressure and fell 5.30% this year as oversupply concerns impacted the market.
Copper and steel prices reflect industrial demand trends
Industrial metals showed mixed movement across global markets. Copper remained one of the best performing base metals due to rising infrastructure spending and strong manufacturing activity worldwide.
Steel prices in China traded at 3185 yuan per tonne while HRC steel prices reached $1136.91 per tonne. HRC steel has now gained 21.59% this year and 27.03% over the past year.
Iron ore prices also stayed relatively stable. Iron ore traded at $110.77 per tonne with yearly gains of 3.40%, while iron ore futures in China stood at 803 yuan per tonne.
Scrap steel prices rose to $415.50 per tonne and recorded yearly growth of 13.68%, reflecting ongoing demand from construction and manufacturing sectors.
The latest metals market data shows that precious metals and battery materials remain the biggest winners in 2026. Investors are continuing to track industrial demand, clean energy growth, and global economic conditions as key drivers for the sector moving forward.