Precious metals showed the strongest performance among key asset classes in 2025 amid geopolitical tensions, expectations of a softening US Federal Reserve policy, and seasonally low liquidity at the end of the year.
According to market reports, silver rose 128.47%, gold rose 66.59%, and copper rose 35.45%.
US stock indices also ended the year in positive territory: the Nasdaq added 19.70% and the Russell 2000 added 12.53%.
At the same time, the crypto market showed weaker dynamics: Bitcoin fell by 5.75%, Ethereum by 11.58%, and the altcoin sector by 42.27%.
In the commodities market, the key driver was the “defensive” component of demand: gold hit new all-time highs in 2025, while silver showed relatively sharp growth; copper also strengthened amid bets on infrastructure and industrial demand.
The price of silver on the spot market went up 3% during trading on Tuesday, hitting $60.24 per ounce, which is a new all-time high.
Gold rose 0.4% to $4,235.9 per ounce.
The rise in the cost of precious metals is driven by expectations that the Federal Reserve will cut its benchmark interest rate by 25 basis points following its next meeting on Wednesday. Based on futures quotes for the rate, traders estimate the probability of this at 89.6%, according to CME FedWatch.
If the forecast comes true, the rate will be reduced for the third consecutive meeting.
“Another 25 basis point rate cut is expected, which is generally optimistic for gold. The market remains strong and could reach record prices after the Fed’s announcement,” said Bob Haberkorn, senior market strategist at RJO Futures.
Currently, it takes 71 ounces of silver to buy 1 ounce of gold, compared to 82 ounces in October.
“The silver-to-gold price ratio is 70 times closer to the average for the last couple of decades, but historically we have gone as low as 40. So, there is definitely potential for growth,“ said Maria Smirnova, director of investments at Sprott Asset Management. ”If we don’t eliminate the deficit, silver has only one way to go — up.”
The rapid growth in the price of gold continues on global markets: December futures prices on the Comex exchange rose to $3,965 per troy ounce on Monday
Against the backdrop of rising gold prices, other precious metals are also becoming more expensive.
Platinum added about 0.8%, rising to $1,085 per ounce, on expectations of reduced supply from South Africa.
Silver strengthened by 1.2%, reaching $32.7 per ounce, following the general increase in interest in precious metals.
According to experts, if political uncertainty in the US and the EU persists, gold could consolidate above the $4,000 mark, with silver and platinum continuing to rise moderately in its wake.
Earlier, the Experts Club analytical center presented an analysis of the world’s leading gold-producing countries in its video on YouTube channel – https://youtube.com/shorts/DWbzJ1e2tJc?si=9YBue5CS6dz-tA6_
The price of silver rose to its highest level in 14 years on Monday due to growing interest in safe assets. On the spot market, the price of silver increased by 2.4% to $40.61 per ounce, the highest since September 2011.
Experts note that demand for silver and other precious metals is being supported by uncertainty surrounding US trade policy and expectations for the release of a labor market report that could influence the Fed’s future interest rate decisions.
The price of gold has exceeded $3,110 per ounce for the first time, and silver is trading at its highest level in 13 years due to increased investor interest in safe-haven assets amid tense global trade, Trading Economics reports.
US President Donald Trump is expected to unveil a plan on Wednesday to increase import duties on products from a number of countries.
Quotes of April gold contracts on the Comex exchange on Monday rose by 1% to $3118 per ounce. Since the beginning of this year, the rise is about 18%, a record quarterly increase since 1986.
Goldman Sachs analysts expect prices to reach $3300 per ounce by the end of the year.
Silver rose by 0.6% to $34,855 per ounce.
The price of gold hit a record on Thursday, while silver rose to a 12-year high on increased expectations of active monetary easing by the Federal Reserve.
Gold futures on the Comex exchange climbed to $2707.9 an ounce during trading.
Silver on the spot market rose 2.8% to $32.71 an ounce, a record since December 2012.
Since the beginning of the year, silver has gained 34% in price, demonstrating the best dynamics among commodities. Gold has risen by almost 30% since the beginning of the year.
The precious metals are supported by expectations of rate cuts by the world’s leading central banks. Traders see about 62% probability of another Fed rate cut, by 50 basis points in November.
The media also write that gold was rising in price in anticipation of the speech of the head of the Federal Reserve Jerome Powell at the opening of the 10th annual conference of the FRB New York, dedicated to the U.S. government bond market. However, in his speech he limited himself to formal greetings to the participants and did not touch upon monetary policy issues.
