Precious Metals Market Update: 12/26/2025

Precious metals markets reopened on Friday, December 26, 2025, for a shortened and quiet trading session following the Christmas holiday. With major hubs like London closed for Boxing Day, liquidity was significantly thinner than usual. Despite the lack of European participation, the underlying bullish trend remained intact. Gold and silver successfully defended the historic gains made earlier in the week, positioning the complex for a record-breaking yearly close.

The trading activity on Friday was largely confined to electronic exchanges (COMEX) and North American desks, as the London Bullion Market Association (LBMA) remained closed for the Boxing Day holiday. Consequently, there were no official LBMA benchmark fixes for gold, silver, or platinum today. In the absence of London's liquidity, price action was muted but constructive. Spot gold drifted slightly higher in low-volume trading, maintaining its foothold above the psychological $4,500 level. Silver continued to consolidate above $70.00, showing resilience despite the temptation for short-term traders to book profits. Platinum, having been the standout performer earlier in the week, traded in a narrow range, remaining sideways.

Key Drivers: Thin Liquidity and "Window Dressing"

With the macroeconomic data calendar empty for the day, market movements were driven primarily by flows rather than headlines.

• Boxing Day Closures: The absence of UK and European traders resulted in dampened volatility. However, the lack of selling pressure allowed prices to drift upward on the path of least resistance.

• Year-End "Window Dressing": As the final trading days of 2025 approach, institutional managers are engaging in "window dressing"—adding winning assets to their portfolios to show clients they held the year's best performers. Given that precious metals, particularly silver bars, have been among the top-performing asset classes in Q4, this structural buying is providing a steady tailwind into year-end.

Technical Analysis: Weekly Close Confirms Breakout

Friday’s close is technically significant as it finalizes the weekly candles.

• Gold: Gold has logged its highest weekly close in history, firmly above the $4,500 breakout zone. The weekly chart shows a massive bullish expansion candle. While the daily RSI is elevated, the weekly momentum indicators suggest the longer-term trend is just entering its acceleration phase. Support is established at $4,480.

• Silver: Closing the week above $70.00 is a major technical victory for the bulls. This level, previously uncharted territory, is now being reinforced as support. The "Blue Sky" breakout remains valid, with no overhead resistance to cap gains.

• Platinum: The metal is consolidating its V-shaped recovery. Holding above $2,200 on a weekly closing basis confirms that the recent breakout was not a "fake-out." Investors looking for value in the PGM space continue to accumulate platinum coins as a catch-up trade.

Forward-Looking Commentary

Looking ahead to next week—the final trading week of 2025—investors should remain aware of unique seasonal dynamics.

• Tax-Loss Selling: Monday and Tuesday may experience some volatility as retail investors finalize their tax-loss selling strategies, although this typically affects underperforming equities more than trending commodities.

• New Year's Schedule:

  • Wednesday, Dec 31: Markets generally operate on normal or slightly shortened hours.

  • Thursday, Jan 1: Markets CLOSED for New Year's Day.

• 2026 Outlook: The focus will soon shift to the January "Jan Effect." With the Federal Reserve signaling rate cuts and inflation data remaining sticky, the macro environment for early 2026 appears highly favorable for tangible assets.

For now, the precious metals market has successfully navigated the holiday week without giving back any ground, signaling strong underlying demand for gold bars as a store of value heading into the new year.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Market data and prices are subject to change. LBMA pricing data was unavailable for Dec 26 due to the Boxing Day holiday.