Gold and silver experienced significant sell-offs this week, retreating from record highs as investors took profits following the precious metals' strongest annual performance in decades. Gold, which peaked at $4,550 on Friday—representing a gain of more than 70% year-to-date—closed the session with a more modest 65% annual gain.

Record-Breaking Week Marks Continuation of Extraordinary 2025 Bull Market

While gold and silver have commanded investor attention throughout much of the calendar year, another precious metal has emerged from the shadows to deliver the most spectacular performance of 2025.

Gold futures achieved a significant milestone, surging through the previous record high of approximately $4,400 established on October 20th. The yellow metal climbed $110.50, or 2.53%, to settle at $4,478.40, marking a decisive break into uncharted territory.

December 20, 2025 — Gold posted its second consecutive weekly gain of approximately $50 per ounce but remained range-bound near $4,340, suggesting the precious metal may have encountered near-term resistance despite a barrage of weak U.S. economic data.

Gold futures settled slightly lower in Wednesday trading, shedding $7.50 or 0.17% to close at $4,364.50 per ounce, after establishing a fresh intraday record high of $4,409.50 earlier in the session. The modest pullback came as market participants digested cooler-than-anticipated U.S. inflation figures that momentarily dampened safe-haven demand.

The precious metals complex continues its remarkable ascent, with gold closing in on its record high less than $30 away and silver establishing new all-time highs amid a confluence of supportive factors including cooling labor markets, persistent geopolitical tensions, and structural supply constraints that are reshaping investor portfolios worldwide.

The U.S. economy delivered a mixed picture this week, with employment data exceeding forecasts even as broader indicators pointed to a decelerating growth trajectory. The divergence highlights the complexity facing policymakers as they navigate an economy showing pockets of strength alongside signs of cooling momentum.

Precious metals extended their blockbuster 2025 rally on Monday, with silver leading the charge higher as disappointing manufacturing data rekindled expectations for additional Federal Reserve rate cuts and weighed on the U.S. dollar.

The precious metals complex closed the week in historic fashion, with gold and silver both registering record weekly closes while palladium surged to levels not witnessed since 2011. Silver futures settled at $62.13, representing a weekly gain of $3.34 or 5.68%, while gold futures advanced $103.50 or 2.45% to trade around $4,332 at the time of writing.