Precious Metals Retreat Amid Profit Taking and Ukraine Peace Talks

On December 29, precious metals experienced a notable retreat as traders engaged in profit-taking following recent record highs, compounded by reported progress in peace negotiations between Donald Trump donald trumpand Volodymyr Zelenskiy volodymyr zelenskiyregarding the ongoing conflict in Ukraine UA. This development has temporarily cooled the safe-haven demand for these assets.

Spot gold GCUSDdeclined by 0.4%, settling at $4,512.30 per ounce as of 0426 GMT, after reaching a record high of $4,549.71 earlier. Meanwhile, spot silver SLVUSDretreated from an all-time high of $83.62 to $79.68 per ounce. Despite these pullbacks, both metals have shown impressive year-to-date gains, with gold up 72% and silver surging 181% in 2025.