Peak hold makes fast level spikes easier to see before they disappear.
Definition
A memory for recent peaks
Peak hold keeps the highest recent peak visible for a short time, or until reset. It helps you notice spikes that would vanish too quickly on a moving meter.
Some meters hold sample peaks, some hold true peaks, and some show both.
Use
Catch repeatable problem hits
Peak hold is useful when a snare, consonant, or bass note occasionally jumps above the rest of the mix. You can loop the section and see whether each pass hits the same ceiling.
It also helps when comparing processing settings that change peak level without sounding much louder.
Limit
Peak hold is not loudness
A high held peak does not mean the mix is loud, and a low held peak does not mean it is balanced. Pair peak hold with LUFS, RMS, and listening.
Meter Core keeps peak behavior next to loudness context so one fast number does not dominate the decision.