Precious Metals Market Update: 12/22/2025

Precious metals markets kicked off the holiday-shortened trading week with continued strength on Monday, December 22, 2025. The release of the Personal Consumption Expenditures (PCE) price index—the Federal Reserve’s preferred inflation gauge—confirmed that price pressures remain sticky, further fueling the "stagflation" trade. While gold held firm near record territory, the standout performer was Platinum, which saw robust buying interest to close firmly above the $2,100 handle.

Trading volume was lighter than usual as institutional desks began winding down for the Christmas holiday, but buyer conviction remained evident across the complex.

Spot gold tested the $4,390.00 level intraday before settling at $4,385.10, marking a solid gain following last week's historic close. Silver saw a late-day surge to close near session highs at $66.25. Meanwhile, Platinum continued its dominance of the industrial metals sector, settling at $2,123.40, driven by continued supply constraints in South Africa and renewed automotive demand.

Key Drivers: PCE Data and "Real Yields"

The marquee event of the day was the release of the Core PCE Price Index, which rose 0.3% month-over-month in November, pushing the annual rate to 3.1%.

This data point reinforces the dilemma facing the Federal Reserve: cutting rates to save the labor market while inflation re-accelerates. For precious metals investors, this lowers "real" interest rates, creating a textbook bullish environment. This dynamic is particularly supportive of platinum bars, which are benefiting from both the monetary safe-haven bid and tight industrial fundamentals.

Technical Analysis: Platinum's Bullish Range

• Platinum: The metal has firmly established a new trading range above $2,100.Monday's close of $2,123.40 confirms strong support at the $2,100 psychological level. Technical indicators suggest the path of least resistance remains higher, with the next major resistance target near $2,150.

• Silver: The metal staged a "bullish divergence" late in the day, ignoring intraday weakness in equities. Closing near the highs of the day at $66.25 suggests momentum traders are positioning for a run at $68.00 before year-end.

• Gold: Gold continues to flag just below $4,400. A daily close above $4,390 is needed to unleash the next leg of buying.

Forward-Looking Commentary

As we move deeper into the holiday week, liquidity conditions will continue to thin.

• Tuesday (GDP Data): Tomorrow brings the final revision of Q3 GDP.

• Holiday Hours: Markets will close early Wednesday (1:00 PM EST) and remain CLOSED on Thursday, Dec 25.

Investors should remain cautious of volatility in thin markets, but the underlying trend of a weakening dollar and rising hard asset prices remains intact.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Market data and prices are subject to change.