Precious metals retreat, silver holds near $80/ounce

Singapore, Dec. 29 (BNA): Precious metals pulled back on Monday, with silver trading near the $80 per ounce mark after hitting a record high earlier in the day and gold easing from near record highs.

Spot gold was down 0.4% at $4,512.30 per ounce, as of 0426 GMT, after hitting a record high of $4,549.71 on Friday. US gold futures for February delivery lost 0.4% to $4,535.10 per ounce, Reuters reported.

Spot silver was up 0.7% at $79.68 per ounce, after retreating from an all-time high of $83.62 hit earlier in the session.

Silver has gained 181% year-to-date, outshining gold, propelled by its designation as a critical US mineral, supply constraints and low inventories amid rising industrial and investment demand.

Bullion has also staged a stellar rally in 2025, climbing 72% so far and shattering multiple record highs.

Spot platinum fell 1.5% to $2,421.35 per ounce, after rising to an all-time high of $2,478.50 earlier in the day, while palladium lost 6% to $1,807.59 per ounce.