26.12.2025 08:05
Gold reached an all-time high of $4,530.60 per ounce in the early hours of the day, driven by safe-haven demand and expectations of interest rate cuts by the Fed. Gram gold also started the new day with record levels, while silver rose by 4%, breaking its historical record at $75.10 per ounce.
Gold and silver rose to historic highs on the last trading day of the week, driven by a strengthening demand for safe havens and increasing expectations that the Fed will continue interest rate cuts next year. The rise in precious metals was accompanied by platinum and palladium.
GOLD AT ALL-TIME HIGH
Spot gold increased by 0.6% to reach $4,506 per ounce, hitting an all-time high of $4,530.60 during the day. U.S. gold futures rose by 0.7% to $4,533.60, setting a new record.
SILVER TESTED ITS HISTORICAL PEAK
The rise in silver was stronger. Spot silver rose by 3.4% to $74.35, then tested its historical peak at $75.14. The increase in gold prices also reflected in the domestic market. Gram gold started the day at a record high, reaching 6,245 TL. Later, gram gold traded around 6,215 TL with a 0.7% increase.
The U.S. dollar index remaining close to its lowest levels in two months increased interest in precious metals. Gold drew attention with a 72% rise throughout 2025, while silver outperformed gold with a 158% increase since the beginning of the year.
MARKETS IN TURMOIL
In the markets, the rise in gold was influenced by expectations of Fed interest rate cuts and additional easing, along with increasing geopolitical uncertainties, a rise in demand from central banks, and asset growth in ETFs. On the silver side, a structural supply deficit, the inclusion of critical minerals in the U.S. list, and strong industrial demand were considered to be driving prices higher.
On the geopolitical front, it was reported that the White House instructed U.S. military forces to focus on implementing a "quarantine" on Venezuelan oil for at least two months. A U.S. official speaking to Reuters stated that Washington preferred to increase pressure on Caracas through economic tools rather than military methods.
On the macroeconomic side, markets maintain expectations for two interest rate cuts from the Fed next year. As non-yielding assets become more attractive in a low-interest environment, this situation supports precious metals, especially gold. The rally in precious metals also spread to platinum and palladium. Spot platinum rose by 5% to $2,334.35 per ounce. Platinum had reached an all-time high of $2,377.50 during the week. Palladium increased by 4.4% to $1,757.25.