Gold, silver hit record highs as precious metals pace toward best year since 1979

Gold (GC=F) and silver (SI=F) have been two of the biggest winners in financial markets this year, as momentum in the precious metals trade pushed prices to all-time highs with just a handful of days left in 2025.

Gold's year-to-date rally topped 70% on Monday, and on Tuesday the price of an ounce of gold briefly broke above $4,500. That set another record during a year that has seen the yellow metal hit 50 all-time highs.

The price of silver has had an even stronger 2025, more than doubling since January. It continued to notch new all-time highs on Tuesday after topping $69 an ounce on Monday.

Both precious metals are on track to deliver their largest annual gain since 1979.