Prices of major precious metals declined on Monday as profit-taking and easing geopolitical tensions reduced demand for safe-haven assets.
Precious metal prices
Gold fell 0.43% to $4,513.30 per ounce by early morning. Prices reached a record high of $4,545 on Friday, and 2025 marked gold’s strongest annual performance since 1979, supported by expectations of a US Federal Reserve rate cut and heightened geopolitical risks, including US sanctions on Venezuela.
Platinum slipped 0.9% to $2,429 per ounce, while palladium posted steeper losses, falling 6.3% to $1,801 per ounce.
Silver continued to outperform the broader precious metals complex, rising 0.34% to $79.54 per ounce. The metal crossed the $77 mark on Friday and has surged about 146% so far in 2025, driven by strong demand from AI data centres and a persistent supply shortfall.
Despite the gains, spot silver remained below its intraday record high of $83 per ounce reached on Sunday.
Geopolitical tensions
Precious metals eased from historic highs as geopolitical tensions showed signs of cooling. Analysts said a combination of profit-taking and optimism around diplomatic efforts weighed on prices.
“A combination of profit-taking and seemingly productive talks between President Trump and President Zelensky regarding a potential peace deal have put gold and silver on the back foot,” said Tim Waterer, chief market analyst at KCM Trade.
On Sunday, US President Donald Trump met with Ukrainian President Volodymyr Zelensky in Florida to discuss a potential resolution to the Ukraine–Russia war. Trump said the talks had made significant progress toward ending the conflict.
Outlook
Despite the pullback, silver is expected to remain well supported into 2026, underpinned by anticipated US interest rate cuts, robust industrial demand, and ongoing supply constraints. Analysts suggest these factors could position silver for a move toward $100 per ounce in the year ahead.
