Precious metals started the new year higher in early Friday trading, with gold rising slightly from a two-week low hit in the previous session, while other metals recovered some of the losses they suffered during the week.
However, metals recorded unprecedented gains in 2025.
Price update
By 0019 GMT, spot gold had risen 0.8 percent to $4,346.69 an ounce, after hitting a record high of $4,549.71 on December 26. It had fallen to a two-week low on Wednesday.
U.S. gold futures for February delivery rose 0.5 percent to $4,360.60 an ounce, according to Reuters data.
The precious metal achieved a huge rise in 2025, ending the year with annual gains of 64 percent, the largest since 1979.
Gold received support last year from interest rate cuts, bets on further monetary easing by the Federal Reserve, geopolitical conflicts, and strong demand from central banks.
According to the minutes of the Federal Reserve's two-day meeting in December, the US central bank only agreed to cut interest rates after a very thorough discussion.
Investors expect interest rates to be cut at least twice this year.
Gold, which does not generate interest, tends to perform well when interest rates are low.
Silver rose 2.1 percent in spot trading to $72.75 an ounce after hitting a record high of $83.62 on Monday. Silver ended the year up 147 percent, significantly outperforming gold, making 2025 its best year ever.
Platinum rose 0.2 percent in spot trading to $2,057.74 an ounce after hitting an all-time high of $2,478.50 on Monday, also posting its biggest ever annual gain after climbing 127 percent.
Palladium rose 2.4 percent to $1,642.90 an ounce, ending last year up 76 percent, its best performance in 15 years.
