WASHINGTON (dpa-AFX) - Gold prices plunged again on Wednesday, erasing all of Tuesday's gains as traders locked in profits on the final day of the year.
Nevertheless, the yellow metal clocked spectacular returns in 2025 bolstered by monetary easing by the Federal Reserve, purchases by central banks as well as geopolitical risks and safe-haven demand. The dollar's sharpest annual loss since 2017 also boosted demand for gold.
Gold Futures for February settlement are currently trading at $4,327.90, declining 1.33 percent from the previous close of $4,386.30. While the day's trading ranged between $4,285.5 and $4,384.7, the 52-week trading ranged between $2,624.60 and $4,584.
Amidst the day's decline, prices represent a weekly decline of 3.9 percent, a monthly surge of 2.5 percent and a year-to-date price gain of 63.9 percent. The yellow metal has witnessed a price jump of close to 137 percent over the 3-year horizon.
Spot Gold is currently trading 0.60 percent lower on an overnight basis at $4,312.66 per troy ounce.
At current prices, both Gold Futures and Spot Gold have gained more than 66 percent over the past year.
Prices of other precious metals also suffered heavy losses. Silver futures for March settlement oscillated between $70.32 and $76.26 per troy ounce and are currently trading at $71.49 per troy ounce. The price represents a decline of 8.3 percent from the previous close of $77.92.
Platinum futures for April settlement ranged between $1,926.6 and $2,237.60 per troy ounce in the day's trading and are currently trading at $2,031.10, implying overnight decline of 9.9 percent. The previous close was at $2,255.10.
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