ABC Bullion Monthly Market Update November 2025

Precious metal markets hit record highs again this month, with gold rising toward AUD $6,475oz, while silver was even stronger, currently trading just below AUD $87oz.

A softer US economic outlook, renewed expectations of a December rate cut and broader weakness in the USD continue to support precious metal demand. Central bank buying remains robust and ETF inflows also reached new all-time highs in November.

Concerns around stretched equity valuations are also a factor, particularly as fears grow that the AI-driven tech boom may be entering bubble territory. This—combined with mounting fiscal debt fears—continues to reinforce safe-haven interest in precious metals, underpinning a bullish medium-to-long-term outlook for gold, silver and platinum.

Demand-wise, the recent strength across the precious metal sector has led to record levels of new account activations, in-store and online trade, and demand for both key physical products as well as our ABC Bullion Gold Saver.

It also provides the ideal backdrop for the release of the ABC Bullion November Monthly Market Update.

With detailed charts on gold, silver and platinum performance; inflation dynamics; commodity prices; comparisons of precious metals markets to risk assets; plus technical analysis, it is an invaluable resource that helps Australian investors navigate precious metal markets.

Thank you for choosing ABC Bullion.

Jordan Eliseo
General Manager, ABC Bullion

Luke Tyler
Analyst ‑ Market & Business Intelligence, ABC Bullion

^{Disclaimer: This document has been prepared by Australian Bullion Company (NSW) Pty Limited (ABN 82 002 858 602) (ABC). The information contained in this document or internet related link (collectively, Document) is of a general nature and is provided for information purposes only. It is not intended to constitute advice, nor to influence any person in making a decision in relation to any precious metal or related product. To the extent that any advice is provided in this Document, it is general advice only and has been prepared without taking into account your objectives, financial situation or needs (your Personal Circumstances). Before acting on any such general advice, we recommend that you obtain professional advice and consider the appropriateness of the advice having regard to your Personal Circumstances. If the advice relates to the acquisition, or possible acquisition of any precious metal or related product, you should obtain independent professional advice before making any decision about whether to acquire it. Although the information and opinions contained in this document are based on sources, we believe to be reliable, to the extent permitted by law, ABC and its associated entities do not warrant, represent or guarantee, expressly or impliedly, that the information contained in this document is accurate, complete, reliable or current. The information is subject to change without notice, and we are under no obligation to update it. Past performance is not a reliable indicator of future performance. If you intend to rely on the information, you should independently verify and assess the accuracy and completeness and obtain professional advice regarding its suitability for your Personal Circumstances. To the extent possible, ABC, its associated entities, and any of its or their officers, employees and agents accepts no liability for any loss or damage relating to any use or reliance on the information in this document. It is intended for the use of ABC clients and may not be distributed or reproduced without consent. © Australian Bullion Company (NSW) Pty Limited 2020.}