Name: Gold and silver hit all-time highs
Uploaded: 2025-12-26T16:09:01.114Z
Duration: 2 min 54 s
Description: Gold, silver, and platinum extended a historic end-of-year rally for precious metals, jumping to all-time highs, with spot gold peaking above $4,530 an ounce.

Gold, silver, and platinum extended a historic end-of-year rally for precious metals, jumping to all-time highs, with spot gold peaking above $4,530 an ounce.

Gold and silver have reached historic highs, fueled by escalating geopolitical tensions and persistent demand from central banks seeking to diversify away from dollar assets. The rally is further supported by increased interest from ETF buyers, who have reportedly purchased more gold than central banks in recent data.

Analysts note that while macroeconomic and policy factors continue to provide tailwinds for precious and industrial metals, the market remains vulnerable to sharp downturns if ETF and retail investors rapidly exit their positions. Recent volatility in metals like palladium underscores the need for careful risk management.

Gold and silver hit all-time highs

Gold and silver jumping to all time highs as escalating geopolitical tensions boost the historic rally. Bloomberg's Tatiana Daria joins us now. Tatiana let's end with the question we heard from Cameron Dawson earlier this week. I think the question is how much can it continue. Can this rally continue. Well we have to ask ourselves if the macro conditions and sort of the catalysts that are playing into this rally will continue and consensus think that they will. For example the structural bid from central banks that is expected to persist for years to come as they want to diversify away from dollar assets into gold. And if you look at geopolitical fractions we keep seeing more of that right. You have Venezuela. You keep an eye on that one because you cannot rule the risk of boots on the ground there. You see more you know militancy escalating now in Nigeria. So geopolitics is reviving that premium yet again. But beyond that you also have concern about Fed independence going into next year. Let's not forget about the Supreme Court tariff decision which could really upend bonds and rekindle that risk premium if fiscal concerns return if the administration is forced to issue refunds. So a lot of the catalysts are in place. And if you look at the white metals they have just recently been added to the critical mineral minerals list which opens the threat of tariffs going into next year. So these are sort of the big tailwinds that the market has. But of course we cannot discount the risk of reacceleration in the economy with the Trump administration pushing that tax bill and those provisions kicking in into the next year and a reacceleration in the economy. Good news for the industrial metals like platinum like silver like copper as well. How are you thinking about the demand that's coming in from ETFs because that was a big driver at least for gold. Yeah exactly. For gold. And now they've actually spiked for the rest. So what is being less appreciated or less talked about is that ETF crowd is has also piled in on this trade. And in gold's specific case ETFs have actually bought more than central banks by some estimates. I only say that because we don't have full visibility into the central bank action. But if you look at the data that we have available those ETF buyers have bought more than central banks and they've returned to this market for the first time in the last five years. So if you look at the history that's poised to continue that's poised to offer another tailwind. But it also leaves this market at risk of of just severe crashes when it all reverses right. ETF buyers and just retail traders can get easily scared by an unwind in this trade. So if you play that trade you have to be aware that there could be some outsize moved on the downside as we've already seen on Wednesday. I mean palladium crashed more than four standard deviations. That will stress your risk management.

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