Gold and silver are trading higher and have reached new record highs in the middle of the European session on Monday, December 22nd, the opening session of the penultimate week of 2025. This surge is driven by increased demand for safe-haven assets and a weakening US dollar. Gold is trading up approximately 1.73% at $4,412 per ounce, while silver is trading at $68.99 per ounce, up 2.75%.

Gold, the leading safe-haven asset, has been receiving support since the beginning of the week amid escalating geopolitical tensions, including the US embargo on Venezuela. Market expectations are also rising for further US interest rate cuts next year. According to the CME FedWatch tool, markets are pricing in two US interest rate cuts next year, putting pressure on the US dollar index and explaining the rise in gold and silver prices.

Gold has risen 70% since the beginning of the year, while silver has surged 138%, marking their best annual performance in four decades. Strong demand, increased central bank purchases this year, and inflows into gold-backed exchange-traded funds (ETFs) have contributed significantly to these gains.

Platinum is trading at $2,055, up 4.18%, while palladium is up approximately 2.22%, trading at $1,751.