Ammon News - Precious metals pulled back on Monday, with silver retreating after breaching $80 per ounce earlier in the day and gold easing from near record highs, as investors booked profits and easing geopolitical tailwinds cooled safe-haven demand.

Spot gold was down 1.7% at $4,455.34 per ounce, as of 0707 GMT, after hitting a record high of $4,549.71 on Friday. U.S. gold futures for February delivery lost 1.2% to $4,500.30 per ounce.

Spot silver was up 4.6% at $75.47 per ounce, after retreating from an all-time high of $83.62 hit earlier in the session.

Silver has gained 181% year-to-date, outshining gold, propelled by its designation as a critical U.S. mineral, supply constraints and low inventories amid rising industrial and investment demand.

Bullion has also staged a stellar rally in 2025, climbing 72% so far and shattering multiple record highs.

Gold has been helped by a cocktail of factors including bets of further U.S. rate cuts, geopolitical tensions, robust demand from central banks and rising holdings in exchange-traded funds.

Traders still expect two U.S. rate cuts next year as they await the release of the Fed's December meeting minutes for clues further policy cues.

Spot platinum fell 6.2% to $2,298.45 per ounce, after rising to an all-time high of $2,478.50 earlier in the day, while palladium plunged 11.4% to $1,705.15 per ounce.

Reuters