Precious metals cash in on record run, stocks bask in year-end glow

There was a last-minute selloff in precious metals markets on Wednesday as investors cashed in some of the year's massive gains in gold, silver and platinum, while stocks quietly consolidated their best year since before the Covid pandemic.

- 

The stock exchange in Frankfurt. European share markets were hovering near record highs after a stellar year. — REUTERS

Most markets were on end-of-year autopilot after a roller coaster 12 months of geopolitics-related swings, extreme dollar weakness, bond market jitters and the ongoing frenzy around AI stocks.

But it wasn't the case for all.

Silver prices jerked back nearly 6 per cent in London following their astonishing 150 per cent surge this year. Gold, which has had its best year since the 1979 oil crisis, dipped 1 per cent , while an 8 per cent plunge in platinum took some of the shine off its 120 per cent 2025 gain.