Precious Metals Surge Ahead of Bitcoin in 2025: Silver, Platinum, and Palladium Join Gold’s Rally
Gold (XAU) has been one of 2025’s top-performing assets, but it’s not alone. Silver, platinum, and palladium have also posted strong gains this year, collectively outperforming bitcoin.
Gold has jumped 44% to a record $3,784 per ounce. Silver has risen 53% to $44.32, platinum is up 60% to $1,452, and palladium has climbed 33% to $1,207, according to TradingView. In contrast, bitcoin — often called “digital gold” — has gained just over 20%, trading near $113,000.
The year-to-date performance highlights the continued role of precious metals as safe-haven assets and inflation hedges amid growing fiscal uncertainty, geopolitical tensions, and potential risks to central bank independence.
Central banks have further supported the rally. Globally, they hold roughly 36,000 metric tons of gold, according to the European Central Bank, and have purchased over 1,000 metric tons annually over the past three years — more than double the previous decade’s average. Their buying accelerated after the coronavirus pandemic and Russia’s 2022 invasion of Ukraine, both of which heightened inflationary pressures.
Bitcoin, however, has yet to make inroads on central bank balance sheets, limiting its role as a reserve asset. Its gains have also been restrained by ongoing liquidations from older wallets above $110,000, which reportedly offset inflows from ETFs.
Overall, 2025 has reinforced the strength of traditional precious metals as hedges and store-of-value assets, while bitcoin continues to lag behind in relative performance despite its growing adoption and market attention.
