Gold and silver end 2025 volatile after record rallies; Goldman Sachs targets $4,900/oz for gold

Gold slipped 0.4% on the final trading day of 2025 to ₹1,36,124 per 10g (approximately $4,334/oz), cooling after hitting an all-time high of $4,549 earlier in the month. The pullback reflects profit-taking rather than fundamental weakness.

Silver fell more sharply, dropping over 6% to ₹2,35,952/kg on December 31, a reversal following a 12% surge in the previous session. The metal's volatility highlights retail and institutional repositioning ahead of year-end.

The year as a whole was historic for precious metals. Gold surged 66% through 2025, while silver soared 161%, driven by central bank purchases, industrial demand, and persistent geopolitical and macroeconomic uncertainties.