Gold prices had earlier risen by 0.2 percent in February, before gaining a further 0.4 percent. As a result, the price of gold is now recorded at USD 4,522.10 per ounce.
Meanwhile, silver prices have also moved higher, rising by 1.1 percent from USD 72.16 to USD 72.70 per ounce.
Platinum prices reached a peak of USD 2,377.50, marking a significant increase in the precious metals market.
Palladium prices climbed by nearly 3 percent to USD 1,916.69 per ounce, the highest level recorded in the past three years.
Market analysts note that the rally across precious metals reflects growing investor concerns over global instability and economic uncertainty, prompting a shift toward assets traditionally viewed as stores of value.
