An aqueous precious metal plating bath, comprising (a) at least one source of precious metal ions; (b) at least one source of hexacyanoferrate (II) ions and/or hexacyanoferrate (III) ions; (c) optionally, at least one source of halogenide; (d) at least one complexing agent; (e) at least one reducing agent for precious metal ions; (f) optionally at least one wetting agent; and (g) optionally, at least one accelerator and a method of depositing of precious metal. The aqueous precious metal plating bath is suitable to provide soft precious metal layers useful for wire bonding and soldering applications which are required for electronic components.