%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The London Metal Exchange reported record annual trading volumes in 2025 as geopolitics and market turbulence led to a rally in the prices of both precious and industrial metals. Average daily volume for futures and options traded on the London Metal Exchange hit a record 717,334 lots last year, up 8% from 2024 and a new all-time high. The final three months of last year were particularly intense as prices for gold (TVC: $GOLD ), silver (TVC: $SILVER ), and copper each hit successive record highs. The price of gold rose more than 60% in 2025 to climb above $4,000 U.S. an ounce, driven largely by increased purchases among the world's central banks. At the same time, the price of silver more than doubled last year and crossed above $80 U.S. an ounce for the first time. Silver traded as high as $83.90 U.S. per ounce in December. Copper, the red coloured industrial metal, also hit a record high towards the end of 2025, trading above $1,300 U.S. per ton. Metal prices surged due to a combination of geopolitical uncertainty and as the U.S. levied tariffs on goods and services around the world. The end result is that trading volumes on the London Metal Exchange scaled new heights amid surging demand. Many analysts say they expect the rally in metals to continue in the new year as geopolitics remain upended and U.S. tariffs continue. A growing number of investors and central banks are turning to metals as safe haven assets amid uncertainty and volatility in equity markets. Several Wall Street banks, including Goldman Sachs (NYSE: $GS ), raised their price targets for leading metals such as gold, silver, and copper in the year ahead. Many analysts expect gold's price to top $5,000 U.S. an ounce before the end of 2026.