(Kitco News) – The sharp end-of-year rally that pushed gold, silver and the PGMs to new all-time highs has created fresh downside risk to prices, even as many of 2025’s drivers remain in place and ETF allocations suggest more room to run, according to precious metals analysts at Heraeus.In the latest update, the analysts wrote that the entire precious metals complex saw spectacular price gains in 2025, with platinum and silver hitting new record highs in December.
