Gold Isn’t Alone: Silver, Platinum, and Other Metals Outperform Bitcoin in 2025

Precious Metals Outshine Bitcoin in 2025: Silver, Platinum, and Palladium Join Gold’s Rally

Gold (XAU) has been a standout performer in 2025, but it’s not the only precious metal making waves. Silver, platinum, and palladium have also delivered impressive gains, collectively outperforming bitcoin over the year.

Gold has surged 44% to a record $3,784 per ounce. Silver has climbed 53% to $44.32, platinum is up 60% to $1,452, and palladium has risen 33% to $1,207, according to TradingView. By comparison, bitcoin — often referred to as digital gold — has increased just over 20% this year, trading near $113,000.

Year-to-date performance underscores the enduring appeal of precious metals as safe-haven assets and inflation hedges amid fiscal uncertainties, rising geopolitical tensions, and potential threats to central bank independence.

Central banks have played a pivotal role in driving these gains. Globally, they hold approximately 36,000 metric tons of gold, according to the European Central Bank, with annual purchases exceeding 1,000 metric tons over the past three years — more than double the average of the previous decade. These acquisitions accelerated after the coronavirus pandemic and Russia’s 2022 invasion of Ukraine, both of which fueled inflationary pressures.

Bitcoin, however, has yet to gain a foothold on central bank balance sheets, limiting its status as a reserve asset. Its performance has also been tempered by liquidations from older wallets above $110,000, which have reportedly offset inflows from ETFs.

The contrast highlights a clear trend in 2025: while bitcoin continues to attract investor attention, traditional precious metals are outperforming as hedges against inflation and geopolitical uncertainty.