Silver Rises Over 120% YTD 
Daily News Nuggets | Today’s top stories for gold and silver investors
December 24th, 2025
Gold Breaks $4,500 as Precious Metals Surge
Gold topped $4,500 an ounce for the first time Wednesday, capping a historic year with a nearly 70% rally — the strongest annual performance since 1979.
Three forces are driving the surge. First, expectations for more Fed rate cuts in 2026. Second, a weaker dollar that’s lost 11% of its value against other currencies. Third, rising geopolitical tensions from Venezuela to the Middle East.
Meanwhile, central banks are quietly reshuffling their reserves. China, India, and Turkey added over 1,000 tonnes of gold this year — part of a broader effort to reduce dependence on the dollar. Some analysts now project gold could hit $5,000 within twelve months.
And gold isn’t rallying alone.
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Silver Breaks Out While Platinum Hits 2008 Levels
Silver rocketed past $70 an ounce this week — up a staggering 150% year-to-date. Platinum broke above $2,300 for the first time since 2008.
Unlike gold, both metals serve double duty. They’re safe-haven assets and industrial commodities. Silver powers solar panels and electronics. Platinum drives hydrogen fuel cells and catalytic converters. That dual demand is creating supply crunches.
Yes, thin holiday trading has exaggerated the moves. But the underlying theme looks durable: investors are hunting for alternatives to traditional currencies as fiscal deficits balloon and inflation persists above central bank targets.
Behind the precious metals surge: expectations that the Federal Reserve will keep cutting rates.
White House Pushes Fed to Keep Cutting
The Trump administration said Tuesday the Federal Reserve can continue lowering rates next year even if the economy grows at 3%. Treasury counselor Joe Lavorgna argued that if inflation falls while rates stay flat, policy automatically becomes tighter — effectively hitting the brakes on growth.
The comments push back against the Fed’s own projections. Officials have penciled in just one rate cut for all of 2026, citing inflation that remains stuck above the 2% target.
Why does this matter for precious metals? Lower rates reduce the opportunity cost of holding gold and silver, which pay no interest. That makes them more attractive relative to bonds and savings accounts.
The Fed’s decision will partly depend on a labor market that’s sending conflicting messages.
Labor Market Sends Mixed Signals
Initial jobless claims unexpectedly fell to 214,000 last week. Good news, right? Not so fast.
The unemployment rate likely remained elevated at 4.6% in December. Continuing claims rose to 1.9 million, meaning workers are taking longer to find new jobs. Economists call it a “no hire, no fire” labor market—companies aren’t laying people off, but they’re not hiring either.
Here’s the puzzle: GDP grew 4.3% in Q3, yet job creation has stalled. The economy is expanding without creating opportunities. That disconnect could pressure the Fed to cut rates more aggressively than currently planned, especially if unemployment keeps drifting higher.
Amid these mixed signals, one of the world’s largest asset managers is urging investors to rethink their strategy.
Vanguard Flips the Script on 60/40
In a striking reversal, Vanguard is recommending investors flip the classic 60/40 portfolio on its head — 40% stocks, 60% bonds.
The reason? Growing concerns about an AI-driven bubble. The Magnificent Seven tech stocks have dominated returns, pushing valuations to levels that historically precede disappointing performance. Vanguard’s economists expect bonds to deliver 4-5% returns over the next three to five years with significantly lower risk than equities.
The recommendation isn’t a fire sale. It applies to new contributions and rebalancing, not wholesale liquidation. Still, it’s a notable shift from a firm that’s championed the 60/40 strategy for decades.
Translation: even the index fund pioneers think it’s time to de-risk.
