Precious metals ended 2025 near record highs, with gold and silver posting exceptional annual gains despite modest year-end pullbacks, supported by de-dollarization, Fed rate cuts, and sustained central bank buying.
Gold closed 2025 at $4,318.65 per ounce, down 0.46% on December 31 but up about 65% for the year after peaking at $4,549.96. Silver ended the year at $71.51 per ounce, falling 6% on the final day, while recording a 150% annual gain and reaching a yearly high of $83, its strongest performance in over a decade.