Gold was steady on Wednesday but remained on track for its strongest annual gain in over four decades, while other precious metals fell sharply as investors booked profits after a strong, record-setting rally.
Spot gold was steady at $4,345.75 per ounce as of 0404 GMT after hitting a record high of $4,549.71 on Friday. US gold futures for February delivery lost 0.5% to $4,365.0/oz.
Bullion has climbed 66% in 2025, marking its largest annual gain since 1979.
Spot silver fell 4.5% to $73.06 per ounce on Wednesday after hitting an all-time high of $83.62 on Monday. Silver has gained over 150% year-to-date, far outpacing gold, and is set for its best year ever.
Spot platinum shed 6.1% to $2,065.80 per ounce after rising to a lifetime high of $2,478.50 on Monday. Palladium fell 7.1% to $1,496.75 per ounce, set to close the year up 65%, its best performance in 15 years.
Last week gold and silver prices had logged new record highs driven by demand for safe-haven assets and growing expectations of another cut in US interest rates next year.
Gold rose to an all-time high above $4,500 an ounce on December 24. Silver and platinum also advanced to records.
