Precious Metals Prices

Precious metal prices increased 8.2% month on month in December, following November’s 0.7% rise.

As has been the case every month of 2025, the average price of precious metals rose in December vs the prior month. Precious metals ended the year on a strong note, as prices surged at the fastest pace among all commodity groups in December. The value of all four metals we track surged—with gold, silver and platinum hitting all-time highs—on the back of U.S. dollar weakness, expectations of further Fed monetary easing, thin market liquidity and increasing geopolitical tensions between the U.S. and Venezuela bolstering safe-haven demand. Still, prices pulled back at the end of the month as traders booked their profits following an over-heated end-of-year rally.