According to sources, prices of precious metals declined on Monday, with silver falling to around $80 per ounce after previously touching a record high, while gold also retreated from its record levels.
According to sources, spot gold fell by 0.4% to $4,512.30 per ounce, after having reached a record high of $4,549.71 per ounce last Friday. Meanwhile, U.S. gold futures for February delivery declined by 0.4% to $4,535.10 per ounce.
On the other hand, spot silver was seen up 0.7% at $79.68 per ounce, although during the same session silver briefly touched an all-time high of $83.62 per ounce before pulling back.
Sources said silver has gained 181% so far in 2025, outperforming gold.
In addition, precious metals have shown a strong rally in 2025, recording gains of 72% so far, with several new records set during the period.
The rise in gold prices has been supported by multiple factors, including expectations of further interest rate cuts in the United States, geopolitical tensions, strong demand from central banks, and increased investment in exchange-traded funds (ETFs).
Watterer said that if the next Federal Reserve chairman maintains a dovish policy stance, a target of $5,000 for gold next year appears achievable.
He further stated that due to interest rate cuts, continued growth in industrial demand, and supply constraints, silver prices could move toward the $100 level in 2026.
Traders believe that two U.S. interest rate cuts are expected next year, as they await the release of the minutes from the Federal Reserve’s December meeting for further policy signals.
Non-yielding assets generally perform better in a low interest rate environment.
Meanwhile, spot platinum fell 1.5% to $2,421.35 per ounce after reaching a record high of $2,478.50 earlier in the day, while palladium dropped 6% to trade at $1,807.59 per ounce.
