There has been a lot of focus on gold recently as prices continue to approach record highs in 2026. As of Feb. 25, 2026, local gold was trading at around $5,150 per troy ounce.
But gold is not the only asset that is rising in value. Due to events that have affected global and domestic supply and demand, a number of other metals are also increasing in value and challenging all-time highs.
These metals – such as silver, copper and aluminum – are flying under the radar while facing rising prices that investors may consider more opportunities than gold.
Why are copper prices rising?
Although copper is an industrial metal and not a precious metal, demand for it in China and the US is increasing. Because the main driver is the transition to green energy, this appears to be a long-term sustainable trend. Besides its many industrial uses, copper is an important component in solar panels, wind turbines, EV charging cables and EV charging stations.
According to Cox Automotive’s Kelley Blue Book, US EV sales will reach a record 1.3 million by 2024. And the Energy Information Administration (EIA) notes that annual renewable electricity generation will surpass nuclear generation in 2021 and coal generation in 2022 — a sign of how rapidly electrification and grid construction are changing US energy demand.
That background coincided with a sharp rise in copper prices: The IMF’s global copper benchmark averaged $12,987 per metric ton in January 2026, up nearly 10% from December 2025.
Because of this, copper-backed equities and funds have attracted attention. For investors looking for stock market exposure combined with copper, options include copper mining exchange-traded funds such as the Global X Copper Miners ETF (COPX).
Silver is rising again
Gold wasn’t the only precious metal to be seen recently. Silver also saw dramatic volatility, with silver trading around $88 an ounce since Feb. 24, 2026.
Demand for the metal continues to outstrip supply, as silver and its alloys are used in batteries, LED chips, medicine, nuclear reactors, solar panels, semiconductors and touch screens. The Silver Institute expects the global silver supply to increase in 2026, but the market forecasts that it will still face another year of deficit – with the total amount estimated at 1.05 billion ounces and mining production at about 820 million ounces.
Like gold, silver is seen as a safe-haven asset that can perform well in times of global turmoil – and can be highly responsive to changes in interest rate expectations and financial market volatility.
For investors seeking market exposure to silver, silver-backed ETFs like the iShares Silver Trust (SLV) remain a popular route.
Fees and penalties change aluminum prices
Another industrial metal – aluminum – also rose sharply. The IMF’s global aluminum benchmark averages $3,134 per metric ton in January 2026, up nearly 9% from December 2025.
Trade policy has been a major changing factor. In the US, Section 232 aluminum tariffs doubled to 50% effective June 4, 2025, a move that helped raise US aluminum premiums. At the same time, US and UK measures announced in April 2024 restricted the trade of newly produced Russian aluminum (and other metals) to large trades, adding another layer of supply chain friction to global steel markets.
Although it is difficult to predict short-term fluctuations, aluminum may remain sensitive to supply disruptions and policy changes – especially as demand continues to increase. According to the World Economic Forum, demand is expected to increase by nearly 40 percent by 2030 as “the transportation, construction, packaging and electronics industries will drive demand and produce 75% of all steel required.”
Aluminum-linked shares can also move sharply with the commodity. Century Aluminum (CENX) and Alcoa (AA) are two examples of US-listed producers that investors tend to watch when aluminum prices rise.
Other complementary instruments – and how to invest safely
Copper, silver and aluminum are not the only metals attracting attention in 2026. Tin prices have been particularly volatile: the IMF’s global tin benchmark averaged $49,134 per metric ton in January 2026, up nearly 19% from December 2025. Zinc also remained high at $3, the highest globally, as zinc is the highest per metric ton in January 2026.
Platinum and palladium also posted big moves: platinum was around $2,155 per ounce since Feb. 23, 2026, while palladium was in the $1,700s per ounce in late February.
Although base and precious metals are currently rising in value recently, short-term trends should not dictate your investment strategies. For example, Alcoa shares hit a close in March 2022 — and later fell more than 60 percent from that point before recovering — showing how quickly metal-linked stocks can disappear when momentum turns.
A safer way to diversify a portfolio by exposure to metals would be to choose an ETF focused on metals that are driven only by short-term drivers. ETFs provide exposure to a broad industry by offering funds in a basket of stocks, and this approach can be strengthened by choosing an ETF that focuses on metals with long-term volatility.
More from Mali:
5 Best Online Gold Dealers of 2024
A Beginner’s Guide to Investing in Precious Metals
Why April saw the Stock Market move even further
