Precious Metals Market Update: 12/23/2025

Precious metals markets delivered a historic performance on Tuesday, December 23, 2025, staging a rally just ahead of the Christmas holiday. Driven by a combination of persistent stagflation fears and thin holiday liquidity, the complex experienced aggressive buying, which sent both gold and silver into uncharted territory. The LBMA Gold Price confirmed the strength of the move, while silver made history by conquering the $70.00 mark for the first time ever.

The trading session was defined by vertical price action as momentum funds and institutional allocators chased performance into the year-end. What began as a steady climb in European trading accelerated significantly during the North American session. Spot gold prices touched an intraday high of $4,498.30, obliterating previous records. However, Silver was the standout performer of the day. After closing Monday at $68.00, the metal gapped higher at the open and never looked back, surging over 6% to break the psychological $70.00 barrier. Platinum continued its own resurgence, extending its breakout to trade comfortably above $2,200.

Key Drivers: LBMA Data and "Price Discovery"

The move was underpinned by data from the London Bullion Market Association (LBMA), which serves as the global benchmark for precious metals.

• LBMA Gold Price: The afternoon benchmark fixed significantly higher, validating the spot market's surge. This confirmation often gives institutional investors the confidence to maintain long positions.

• The "Fear Trade": Fundamentally, the driver remains the "stagflation" narrative confirmed by yesterday’s PCE data and today’s GDP revision. With the Federal Reserve signaling a tolerance for higher inflation to protect the labor market, investors are aggressively repricing real assets.

Technical Analysis: Blue Sky Breakouts

Technical analysts describe the current environment as a "Blue Sky Breakout"—a scenario where prices are at all-time highs with no historical overhead resistance to hinder upward movement.

• Gold: Having cleared the $4,400 milestone with ease, gold is now in pure price discovery mode. Traders will likely look to psychological round numbers, such as $4,500, as the next potential areas of interest.

• Silver: The move above $70.00 is a watershed moment. Since silver has never traded at these levels, there are no prior resistance zones to reference. The price action suggests a powerful momentum trade is underway.

• Support Levels: In the absence of historical resistance, traders often look to "gap fills" for support. The gap created between Monday's close of $68.00 and Tuesday's open of $69.00 may serve as a potential floor (the "breakout zone") should prices retrace.

Forward-Looking Commentary

As markets close for the holiday, investors should remain vigilant regarding market mechanics.

• Holiday Schedule: Global markets will be CLOSED, December 25th.

• Liquidity Risks: The velocity of today's move, combined with the upcoming market closure, creates a scenario where volatility could remain elevated when trading resumes on Friday.

This historic pre-Christmas rally highlights the continued demand for tangible stores of value. With silver bars and gold coins trading at unprecedented levels, the metals market heads into the holiday season with undeniable momentum.Disclaimer: This article is for informational purposes only. Market data references LBMA benchmarks and spot pricing, which are subject to change.

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