Precious metals kick off New Year on strong note

NEW YORK, 2nd January, 2026 (WAM) — Precious metals kick-started the New Year on a strong note on Friday, resuming their rally after unprecedented gains in 2025.

Spot gold climbed 1.3 percent to $4,372.02 per ounce as of 0357 GMT, after hitting a record high of $4,549.71 on 26th December. It fell to a two-week low on Wednesday.

US gold futures for February delivery gained 1 percent to $4,386.40/oz.

Bullion staged a stellar rally in 2025, ending the year with annual gains of 64 percent, its largest since 1979.

Spot silver added 2.8 percent to $73.30 per ounce, after hitting an all-time high of $83.62 on Monday. Silver ended the year surging 147 percent, far outpacing gold, in what was its best year ever on ‍record.

Spot platinum was up 3.1 percent at $2,116.40 per ounce, after rising to an all-time high of $2,478.50 on Monday, and it too staged its largest gain in a year ever, having climbed 127 percent.

Palladium rose 2.2 percent to $1,641.03 ‌per ounce, closing the previous year up 76 percent, its best in 15 years.