Commentary for Wednesday, Dec 24, 2025 (www.golddealer.com) – Today gold closed down $2.20 at $4480.60, and silver closed up $0.54 at $71.03. Gold trended lower this Christmas Eve testing support at $4450.00 but traders bought this weakness, which is very encouraging and the cash market recovered nicely. My bet is that gold will make new highs, if not before the New Year, then early in 2026.00. Last Friday gold closed at $4361.40, and silver closed $66.85. On the week gold was higher by $119.20, and silver was higher by $4.18.
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On Monday the price of gold and silver powered up, making all-time highs ($4440.00) and ($68.82), driven by geopolitical tension between the US and Venezuela and helped by a weakening dollar. These latest bullish fireworks are boosted by last Friday’s momentum and increased safe haven demand for bullion worldwide. Insiders have been talking about $5000.00 gold for some time now, but I think the President’s Venezuela oil sanctions will spur more record prices sooner than later. Bullion gold is higher by 70% this year and silver is higher by 138% during the same time frame, so the more conservative among us will be looking for short term profit taking. But this logical conclusion is again turning into a busted flush, as the world gets ready for higher highs and higher lows based on rising demand for physical bullion.
Reuters (Sherin Elizabeth Vargese) – Gold jumps over 2% to all-time peak; silver follows with record gain – Gold jumped more than 2% to a record high on Monday, powered by safe-haven flows as U.S.-Venezuela tensions flared, while silver also touched an all-time peak. Spot gold was up nearly 2% at $4,421.15 per ounce by 09:43 a.m. ET (1443 GMT) after hitting $4,428.92 earlier. U.S. gold futures for February delivery climbed 1.6% to $4,455.7 per ounce. “Support in the near-term is coming from raised geopolitical tensions between the U.S. and Venezuela… Gold prices have been hovering just below record highs in recent sessions, so this looks like a simple textbook momentum break to the upside after recent bullish consolidation, in holiday markets with less volume,” said an analyst at Nemo.Money. “The obvious target for gold bulls is $5,000 next year.” U.S. President Donald Trump last week announced a “blockade” of all oil tankers under sanctions entering and leaving Venezuela. Trump’s pressure campaign against President Nicolás Maduro has included a heightened military presence in the region and more than two dozen strikes on vessels in the Pacific and Caribbean. Gold as a safe-haven asset tends to thrive during periods of geopolitical uncertainty. Bullion has surged more than 68% this year in its biggest annual rise since 1979, fueled by strong central bank buying, safe-haven flows, and lower interest rates. Spot silver was up 2.7% at $68.93 after hitting a new high of $69.44. Prices are up 138% so far this year. The drivers behind recent highs have centered on the persistent supply-demand deficit and import demand growing in India over its festive period, said Macquarie strategists, adding that they expect silver to average $57 an ounce in 2026. The U.S. dollar edged lower against a basket of other major currencies, making dollar-priced bullion more affordable for overseas buyers. Platinum jumped 5.3% to $2,06.8, hitting its highest in more than 17 years, while palladium climbed 3.2% to $1,767.68, hitting a near three-year high.
On the day gold closed up $83.20 at $4444.60, and silver closed up $1.06 at $67.91.
On Tuesday the price of gold cooled to some degree this morning after moving to daily highs of $4496.00 and then reversing direction testing support at $4440.00. Still, traders bought this dip and gold finished the day nicely in the green, so don’t be surprised to see $5000.00 gold this year. Frankly, I expected more profit taking today considering the whopping move to the upside yesterday. Still, the technical guys see support at $4400.00 so there may not be much downside through the holiday season. The store was packed yesterday, and a sizable rainstorm is on the way so be careful driving.
FXEmpire (Christopher Lewis) – Gold Continues to See Inflows on Tuesday – Gold continues to rally quite significantly on Tuesday as inflows remain strong heading into the holidays. Technical Analysis – The gold market has rallied quite nicely during the trading session on Tuesday in the early hours, as we continue to see traders run toward gold in order to protect wealth. The gold markets are now above $4,500, and that, of course, is a major victory from a psychological standpoint. Short-term pullbacks will continue to be buying opportunities, and after breaking out of that massive triangle, it looks like a pullback, more likely than not, will offer value that people are going to take advantage of. I would be particularly interested in the $4,400 level if we do, in fact, get a retest of that. The markets are going to continue to be bullish, I believe, going into next year, and with the type of momentum that we have seen, I just do not see how this changes anytime soon. In fact, this could very well be another move just like we had seen from the ascending triangle through the summer. Where does gold end up? I do not know. I would be lying if I told you that I understood completely, but looking at the size of the triangle, if you use basic technical analysis, it suggests that we are going to $4,900. I think if we get there, the market will try $5,000. I do not see any reason why it wouldn’t. If we do turn around and break down below $4,400, then we might have to find the 50-day EMA but the biggest concern in the short term is the fact that we are heading into the holidays and with that being the case it does make a certain amount of sense that volatility and perhaps even lack of volume could be a major issue at this point. With this being the case, I think we have to look at every dip as a potential buying opportunity. Silver Continues to See Buying on Tuesday – Silver has forgotten the concept of gravity. At this point, the only thing to worry about is liquidity. Technical Analysis – Silver has gapped to the upside to kick off the trading session here on Tuesday, but you can see we are starting to give back some of the gains. Regardless, at this point in time, I think silver has forgotten the concept of gravity. I do not think gravity applies anymore; this is kind of amazing to watch. In the last 20 years, I have heard a lot of murmuring about how we do not have a lot of silver out there or at least not enough silver to fulfill demand. The supply was not coming out of the ground quickly enough. There have been times when it has been pretty much even, but for the most part, it has always been a deficit. For some reason, this year, people decided to take it seriously, and this is the end result. Silver is getting a boost from a lot of different reasons. The AI demand in data centers I guess is part of it. There is also the green energy aspect, and then on top of that, there is just the way central banks are behaving at the moment. They are loosening monetary policy while governments are neck deep in debt, and it is a way to protect wealth. It is probably not the best way, but I think once you add all of these things together, you get this kind of mess. Ultimately, this is no man’s land. We are approaching $70, and the best you can do at this point in time is look at dips as potential buying opportunities at psychologically significant numbers. For example, the $65 level and the $60 level both could be candidates for support that you would take advantage of, but it is almost impossible at this point to determine exactly where we will bottom out on any pullback. It could be a lot shallower than we think. We are getting close to the holidays, and liquidity will be a major issue here, so with that in mind, we could get an erratic move to the downside, mainly just people taking profit out of the market. After all, if you got long in silver sometime in November at roughly $49 an ounce and here we are over $69 an ounce, and you are getting to the holidays and low liquidity, it would make sense to close out your position and take those massive gains out of the market. Overall, this is a trend that is really hard to fight at this point.
On the day gold closed up $38.20 at $4482.80, and silver closed up $2.58 at $70.49.
On Wednesday the bulls seemed to be resting a bit, the price of gold being almost unchanged. But the smart money believes the bull market in gold, silver, platinum and palladium is still alive and well, spurred by rising geopolitical tension which sparks fresh safe haven demand. Christmas and Hanukkah warms the hearts of the entire world and is traditionally a “quiet trade” so I don’t expect much in the way of price volatility. Have a safe and sacred holiday season.
Reuters (Sarah Qureshi) – Gold, silver and platinum take a breather after record rally – Gold prices edged lower on Wednesday, taking a breather after surging past the key $4,500-an-ounce mark earlier in the session, while silver and platinum trimmed some gains following their record-breaking rally. Spot gold was down 0.3% at $4,473.49 per ounce at 11:52 a.m. ET (16:52 GMT), after marking a record high of $4,525.18 earlier in the session. U.S. gold futures for February delivery fell 0.1% to $4,500.30. The gold market is seeing some chart consolidation and mild profit-taking after record highs, said senior analyst at Kitco Metals Jim Wyckoff. Gold tends to do well in a low-interest-rate environment and thrives during periods of uncertainty. U.S. President Donald Trump said on Tuesday he wants the next Federal Reserve chair to lower interest rates if markets are doing well. The U.S. central bank has cut rates three times this year and currently traders are pricing two rate cuts next year. On the geopolitical front, the U.S. Coast Guard is waiting for additional forces to arrive before potentially attempting to board and seize a Venezuela-linked oil tanker it has been pursuing since Sunday, a U.S. official told Reuters. Silver hit an all-time high of $72.70 and was last up 0.1% at $71.5 an ounce. “The next upside target for gold market is $4,600/oz and for silver is $75/oz by the end of the year. The technicals remain bullish,” Wyckoff added. Silver prices have surged 148% year-to-date on strong fundamentals, outpacing bullion’s gain of over 70% during the same period. Platinum peaked at $2,377.50 before paring gains to stand 4% lower at $2,186.16. Palladium was down more than 10% at $1,675.43 an ounce, retreating after touching its highest in three years earlier. Platinum and palladium, primarily used in automotive catalytic converters to reduce emissions, are up about 143% and more than 85%, respectively, year-to-date, on tight mine supply, tariff uncertainty, and a rotation from gold investment demand.
On the day gold down $2.20 at $4480.60, and silver closed up $0.54 at $71.03.
Platinum closed down $39.60 at $2242.40, and palladium closed down $152.30.
On Thursday and Friday our offices were closed for the holidays.
Jim Wycoff (Kitco) – Technically, February gold futures bulls’ next upside price objective is to produce a close above solid resistance at $4,600.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $4,300.00. First resistance is seen at the overnight record high of $4,555.10 and then at $4,575.00. First support is seen at today’s low of $4,474.30 and then at $4,433.00. March silver futures bulls’ next upside price objective is closing prices above solid technical resistance at $75.00. The next downside price objective for the bears is closing prices below solid support at $65.00. First resistance is seen at the overnight record high of $72.75 and then at $73.00. Next support is seen at $70.00 and then at $69.00.
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