The precious metals market in 2025 staged a spectacular "dual performance." Although gold and silver each had their own characteristics, both delivered impressive results.

Let's start with gold. By the end of the year, the spot gold closing price was $4,318.65 per ounce, with an annual increase of nearly 65%. During the year, it hit more than 50 new highs, and at its peak, even touched the $4,550 mark. Although there was a slight decline of 0.46% on the last day of December, this was just a minor fluctuation within a long-term strong trend.

Silver's performance was even more astonishing. It rose 150% over the year, once reaching a historic peak of $83, and can be called a true "dark horse comeback." Although there was some correction at the end of the year, the overall trend remained strong, and the increased volatility reflected higher market participation.

What drove this round of market activity? There are several supporting factors. First, the global "de-dollarization" process has accelerated continuously, with central banks around the world steadily increasing their gold reserves, providing a solid foundation for gold prices. Second, the Federal Reserve's rate hike cycle has come to an end, and the market is beginning to anticipate subsequent rate cuts, making safe-haven assets more attractive under low-interest-rate environments. Third, silver benefited from growing industrial demand—emerging industries such as new energy, photovoltaics, and batteries continue to drive strong demand for silver.

Many people once questioned whether gold was an "asset that doesn't move," but the facts speak for themselves. From mid-2024, it started accumulating strength, and by 2025, it fully exploded, ultimately becoming the most shining safe-haven asset of the year.

For investors, the high volatility of silver creates both opportunities and challenges. Especially when using leverage, risk management becomes even more important. Overall, this year's precious metals market once again proved that in an era of increasing economic uncertainty, the value of safe-haven assets is much deeper than many people imagine.