Precious metal markets are continuing to trade within established ranges, as ABC Bullion reported gold traded at US$4,076 ($6,305) per ounce – down just over 1% for the week ending 21 November.
Since then, gold’s spot price has risen – sitting at US$4,132 per ounce at the time of writing, as reported by Trading Economics. Over the past month, the yellow metal has increased 3.73% and is up 56.9% compared to the same time last year.
ABC Bullion reports that silver has pulled back further, falling just over 3.5% to around US$50.50 per ounce on Friday 21 November. The bullion notes this comes off the back of a more than 8% jump last week.
These moves are not unexpected given broader market developments, with equities also softer, while the crypto space is seeing a washout, with Bitcoin (BTC) down nearly 31% from its peak of US$125,135 in early October 2025 and is down 10% during the past week alone – US$85,000 per coin.
ABC Bullion notes the pullback in cryptocurrency has now seen Bitcoin enter negative territory year-to-date, with gold breaking out versus BTC.
As the Christmas period comes closer as well as 2026, gold looks safer in comparison to BTC, and potentially more rewarding of the two, as banks such as JP Morgan forecast gold to touch the US$5,000 per ounce mark in the coming year.
Precious metals are expected to be supported by continued central bank buying, rising investors allocations in developed markets, continued support in key physical markets across Asia, the sub-continuent, and the Middle East.
Further, to celebrate Black Friday, ABC Bullion is offering discounted premiums on a range of one ounce silver coins.
Over the past month, silver’s price has risen 9.09% and is up 67.96% compared to the same period last year. Silver’s spot price sat at US$51.13 per ounce at the time of writing, as reported by Trading Economics.
Write to Aaliyah Rogan at Mining.com.au
Images: ABC Bullion
