Insights
Data-led analysis of precious metals performance since 1999.
Precious metals have performed strongly across short-, medium-, and long-term timeframes. On this page, you will find:
Gold and silver prices (AUD/oz) from January 1999 to December 2025
Long-term compounded annual growth rates in AUD and USD
Annualised returns compared with key asset classes
Calendar-year returns for gold and silver since 2000 (AUD and USD)
The chart to the right shows the significant rise in precious metal prices over this period. In Australian dollar terms, gold has increased from under $500/oz to over $6,400/oz, and silver from under $8/oz to over $106/oz—both gaining more than 1000% over the past 25 years.
Gold and Silver Prices in AUD (1999 to 2025)
LBMA, RBA, ABC Bullion
The table below shows that to the end of 2025, gold and silver have delivered strong, market-leading returns over multiple time periods, with both rising around 10.8% per annum in AUD terms (gold 11.7% and silver 11.6% in USD) over the past 25 years.
Both metals—most notably gold—have been market leading performers over this quarter-century time period.
Gold and Silver in AUD and USD Terms to End 2025
LBMA, RBA, ABC Bullion
Disclaimer: Note these calculations are based on metal prices only, and do not take into account trading costs and/or associated taxes that may be involved. Past performance is no guarantee of future results. ABC Bullion does not offer financial or tax advice.
The table below shows the historical performance of major asset classes—including gold, silver, and a diversified superannuation portfolio—across multiple time horizons to December 2025.
Demonstrably, gold and silver have delivered above-average returns over the short, medium, and long term, with strong outperformance against most asset classes over the past 25 years.
Both metals have also significantly outperformed cash over the past 30 years. With cash returns often lagging inflation, this has been a key driver of investor interest in gold and silver as sources of growth and retirement cashflow—and is a key factor when considering gold and silver.
Annualised Investment Returns (%): Gold & Silver in AUD vs Other Asset Classes (Jan 1971 to Dec 2025)
LBMA, RBA, Chant West, Australian Bureau of Statistics, Bloomberg Finance L.P., Melbourne Institute of Applied Economic & Social Research, MSCI Inc., S&P Dow Jones Indices LLC., WM Reuters.
Notes: 1. Per annum total returns to 31 December 2025. 2. LBMA monthly price data, RBA AUDUSD price data, ABC Bullion Calculations. 3. Chant West Superannuation Growth Fund Returns. 4. S&P 500 Total Return Index (in AUD). 5. S&P/ASX All Ordinaries Total Return Index. 6. MSCI World ex-Australia Net Total Return Index AUD Index. 7. S&P/ASX 200 A-REIT Total Return Index. 8. Bloomberg AusBond Composite 0+ Yr Index. 9. Bloomberg AusBond Bank Bill Index. 10. ABS Consumer Price Index. 11. Proxied returns using Vanguard Historical Return Data (assuming 70% Australian Shares, 20% Australian Bonds and 10% Cash asset allocation).
Disclaimer: Note these calculations are based on metal prices only, and do not take into account trading costs and/or associated taxes that may be involved. Past performance is no guarantee of future results. ABC Bullion does not offer financial or tax advice.
Both gold and silver have delivered strong long-term returns in both AUD and USD terms, with the precious metals rising by more than 10% per annum over the 25 years to end 2025.
The strong long-term growth has been underpinned by consistent price growth across most years—especially for gold—though there have of course been pullbacks throughout this multi-decade bull market, most notably in 2013.
Standout years for performance include 2010 for silver (+59.1% in AUD terms, +80.3% in USD terms) and 2025 for gold (+53.5% in AUD terms, +65.3% in USD terms), with demand for precious metals surging amid the highs.
Investor Guides
ABC Bullion takes great pride in delivering industry-leading resources for physical bullion investment. Our Precious Metal Investor Guide: 2025 Edition is a trusted resource for first-time bullion investors, outlining the key benefits of precious metals. The guide also highlights products investors commonly select when allocating money to precious metals, and other frequently asked questions.
Market Updates
Stay ahead of the curve with ABC Bullion's Market Updates, published weekly. These reports analyse the latest developments across the gold, silver and platinum sectors, looking at both the returns of precious metals, plus other key markets such as equities, commodities and fixed income. Our reports also look at investor positioning, fund flows, central bank data, and technical analysis. Subscribe to have our Market Updates delivered straight to your inbox, making it easy to track your investments and understand what’s driving market movements.
FAQs
Our Frequently Asked Questions page answers the most common queries about buying, storing and selling precious metals.
Looking for more personalised guidance? Our Client Services team would be happy to assist. Contact us on 1300 361 261 or visit one of our offices nationwide for a more detailed discussion.
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