Franklin Gold And Precious Metals Fund Q4 2025 Commentary

Franklin Templeton4.63K FollowersFollow5ShareSavePlay(9min)CommentsSummaryGold and silver reached all-time inflation-adjusted highs during the fourth quarter of 2025, supported by investor demand for perceived 'haven' assets.Copper prices reached multiyear highs above $12,000 per metric ton as industrial demand tied to electrification, green energy buildouts and power grid expansions intensified.Effective stock selection in the gold industry and off-index allocations to miners focused on silver and copper topped the pure-play gold miners.Many gold-focused miners are likely to report record earnings and free cash flow growth with their upcoming fourth-quarter 2025 financial results.Gold producers’ rapidly increasing cash flow, combined with attractive valuations for development-stage miners, leaves us optimistic about further industry consolidation. FeelPic/iStock via Getty Images Key Takeaways Precious and Base Metals Markets: Gold (+11.9%, to $4,319 per troy ounce) and silver (+53.6%, to $71.66 an ounce) reached all-time inflation-adjusted highs during the fourth quarter of 2025 (4Q25). Both metals delivered impressive returns relative to the broader markets, posting their best yearly results This article was written byFranklin Templeton4.63K FollowersFollowFranklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.4 trillion in assets under management as of June 30, 2023. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.