In 2025, precious metals like silver, platinum, and palladium have notably outperformed bitcoin. Gold, with a remarkable increase of 44% this year, has reached a record price of $3,784. Silver has surpassed expectations, gaining 53% to $44.32 per troy ounce, while platinum and palladium have risen by 60% and 33%, reaching $1,452 and $1,207, respectively. In contrast, bitcoin has only seen a modest rise of over 20% to $113,000. This shift towards precious metals as safe havens has been significantly influenced by increased purchases from central banks, which collectively hold around 36,000 metric tons of gold. Their buying activity has accelerated since the coronavirus pandemic and geopolitical tensions following Russia's invasion of Ukraine, both fueling inflationary fears. Meanwhile, bitcoin's slow adoption by central banks and selling pressure by existing holders has limited its growth potential, indicating that precious metals are currently more favored as financial assets.

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