Market News

Gold (GC=F) and silver (SI=F) investors are taking a victory lap this year as crypto bulls are left in the dust.

On Friday, gold futures rose above $4,550 to hover at or near record highs, capping a year marked by more than 50 such records.

Meanwhile, silver also jumped over $75 per ounce, extending its year-to-date gains to 150% in a parabolic rally driven by concerns about physical shortages during a time of robust industrial demand. Platinum (PL=F) and copper (HG=F) have also soared to records this year.

Some investors have been quick to point out the divergence between the metals industry and cryptocurrency, which has been led by a leg lower in bitcoin (BTC-USD), down roughly 6% year-to-date. Ether (ETH-USD) is also on track for a yearly loss of 12%.

"With gold now up almost 70% in 2025 and most cryptocurrencies negative, the time has come for the crypto crowd to switch to gold, " Louis Navellier, founder of Navellier & Associates, noted earlier this week.

Navellier points to central bank purchases, lower volatility, and improved liquidity in the gold market compared with cryptocurrencies.

Meanwhile, gold bull Peter Schiff, a notorious critic of crypto, stated on X, "If Bitcoin won’t go up when tech stocks rise, and it won’t go up when gold and silver rise, when will it go up? The answer is: it won’t."