Gold spot prices (XAU/USD) climbed to a fresh all-time high of $3,488 per ounce on Friday, up $48 or 1.4% on the day and 33.8% year-to-date — the strongest annualized performance since the 1979 spike. Silver (XAG/USD) touched $42.60, its highest since 2011, while platinum (XPT/USD) rose to $1,184 — both rallying on the precious-complex bid. The SPDR Gold Trust (GLD) added 1.5% to a record close of $324.40.
World Gold Council preliminary data released Friday showed global central-bank gold purchases tracking 134 metric tons month-to-date in May — the highest monthly pace since November 2024 — with the People's Bank of China, the National Bank of Poland, and the Reserve Bank of India accounting for roughly 71% of disclosed accumulation. The PBoC has now reported 22 consecutive monthly increases, taking total reserves to 2,388 tons (5.4% of FX reserves at current prices).
Mining Equity Rally
Gold mining equities — which had lagged the spot rally for much of 2025 — caught up sharply Friday: Newmont (NEM) added 4.2% to a 14-year high of $58.40, Barrick Gold (GOLD) rose 5.6% to $24.80, Agnico Eagle (AEM) climbed 4.8% to $124, and Wheaton Precious Metals (WPM) gained 5.4%. The VanEck Gold