Precious Metals Surge as New Year Commences on a High Note

Dubai: 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 December 26. It had fallen to a two-week low on Wednesday. Meanwhile, US gold futures for February delivery gained 1 percent to $4,386.40 per ounce. According to Emirates News Agency, bullion staged a stellar rally in 2025, ending the year with annual gains of 64 percent, marking its largest increase since 1979. Spot silver added 2.8 percent to $73.30 per ounce, after reaching an all-time high of $83.62 on Monday. Silver ended the year surging 147 percent, far outpacing gold, achieving its best year on record. Spot platinum increased by 3.1 percent to $2,116.40 per ounce, following a rise to an all-time high of $2,478.50 on Monday. It also recorded its largest annual gain, having climbed 127 percent. Palladium rose 2.2 percent to $1,641.03 per ounce, closing the pre vious year up 76 percent, its best performance in 15 years.