Gold and silver prices fell, but 2025 was still a standout year for the metals. Gold futures dropped to around $4,350 per troy ounce, while silver futures fell about 10% after the Chicago Mercantile Exchange raised margin requirements. Gold surged 65% and silver doubled, marking their strongest gains since 1979.

Platinum and copper also saw significant gains in 2025 amid a global AI boom and efforts to onshore manufacturing. Josh Phair, founder of Scottsdale Mint, stated that there is a “metals war” as countries secure metal resources, with central bank buying of gold accelerating in recent years.

Silver and copper have risen as the US added them to its critical minerals list. China, the third-largest silver mining country, is set to restrict silver exports in 2025, raising concerns of a supply crunch worldwide. Phair emphasized the importance of silver for the US economy and national security.

Roughly 60% of the world’s silver is used for industrial applications, from solar panels to electric vehicle batteries. Samsung struck a $7 million deal to secure future silver supply from a Mexican mine in October. Some warn of a “stretched trade” in metals, but Phair believes silver is still undervalued when adjusted for inflation.

The rise in metal prices in 2025 coincided with a weakened US dollar and three interest rate cuts by the Federal Reserve. Despite the recent volatility, gold and silver remain strong investments due to their historical performance and industrial applications.

Read more at Yahoo Finance: Gold, silver track their best year since 1970s as volatility grips trade