Precious metals fall in Wednesday trade despite record 2025 finish

Precious metals fell on Wednesday but were set to close 2025 with historic gains, led by silver’s 140 per cent surge and gold’s strongest annual rise in more than 40 years.

Spot gold dropped 1.4 per cent to $4,286.89 per ounce, having hit a record $4,549.71 on Friday, while US February gold futures fell 2 per cent to $4,298.60/oz. Bullion has climbed over 60 per cent this year, driven by rate cuts, bets on further US Federal Reserve easing, geopolitical tensions, central bank demand, and rising ETF holdings.

Spot silver slid 7.1 per cent to $71.02 after reaching an all-time high of $83.62 on Monday. The metal, aided by its status as a critical US mineral, supply constraints, and growing industrial and investment demand, is on track for its best year ever.

Platinum dropped 12 per cent to $1,935.35, following a lifetime high of $2,478.50, up more than 110 per cent for 2025. Palladium fell 8.2 per cent to $1,478, set to end the year up 66 per cent, its strongest performance in 15 years. Gains were also pressured by a stronger US dollar and year-end profit-taking.

Attribution: Reuters