A method for recovering precious metals such as gold and silver from aqueous solution as solid is described The method includes mixing an aqueous solution (e.g, thiosulfate or thiocyanate lixiviant) containing precious metals with ferrous ions in the presence of an effective amount of hydroxide ions. The precious metal ions are reduced and co-precipitate with iron hydroxides and/or hydrated iron oxides The co-precipitate is collected and purified. De-oxygenation of the reaction solution is optional. The recover/method is fast, complete and clean.