AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

12/23/2025: Gold, silver set new records

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained another 0.9% to close at a fresh record-high near $4,483 on safe-haven inflows as the dollar retreated on rate-cut hopes after President Trump declared that agreeing with him about lowering rates is a prerequisite for the next Fed Chair. Silver surged another 3.8% to a new all-time high of $70.49 an ounce.

Escalating global tensions and rate-cut bets continue to fuel the remarkable rallies enjoyed by all four precious metals. Aggressive actions by the US toward Venezuela, including a naval blockade, the seizing of oil tankers, and bombardments of fishing boats allegedly carrying drugs, have raised the likelihood of armed conflict in this hemisphere.

Separately, President Trump said today that he wants the "new Fed Chairman to lower Interest Rates if the Market is doing well," and that “Anybody that disagrees with me will never be the Fed Chairman!”

This condition runs contrary to the freedom of the Fed, something that alarms most economists and financial markets. It is also contrary to mainstream financial wisdom, which would typically advocate holding interest rates steady or even raising them when the markets are strong to prevent overheating and inflation.

The dollar fell 0.2% against major rivals on the growing expectation that the Fed will lower interest rates further in 2026. The buck is on course for a yearly decline of nearly 10%, its worst since 2017. A weaker dollar lifts gold and other commodities by making them cheaper in other currencies.

Silver's 140% rally this year continues to gather momentum, reaching new records by a five-year supply deficit, rising industrial demand, and speculative buying by funds and private ETF investors.

Platinum and palladium rallied 9% and 7%, respectively.

At the New York spot close: gold gained $38.20 to $4,482.80; silver surged $2.58 to $70.49; platinum picked up $186.75 to $2,270.75; and palladium roe $125.20 to $1,918.60 an ounce.