Precious Metals Power Higher to Start 2025

In this week's market update:

• Precious metal markets have started the New Year on positive footing, continuing the solid momentum that saw them generate market leading returns in 2024.

• Gold in Australian dollars has topped AUD $4,300 per troy ounce (oz), while silver has pushed up toward AUD $49oz.

• The price strength follows on from a record year for precious metals seen in 2024, with gold hitting all-time highs in multiple currencies.

• The outlook for bullion also remains positive, with expectations of more monetary easing, persistent inflationary and geopolitical concerns, and heightened fears around trade all suggesting that we will see higher gold and silver prices across 2025.

• Elevated valuations in risk assets, modest portfolio allocations to precious metals, and continued buying support from central banks around the world only reinforce the positive outlook for bullion.

Our latest monthly market report delves into the precious metal market in more detail, looking at recent performance trends, how gold compares to other financial assets, and investor positioning heading into 2025.