Gold prices ended the year slightly lower than the value recorded 12 months earlier. Statistics on December 26, 2021 show the dollar value of an ounce of gold at $1810 per unit, compared to $1797 per ounce today.
Silver, on the other hand, has managed to add a modicum of value since last year as the price climbed from $23.04 per unit to around $23.72 on December 26, 2022.
The price performance of both precious metals is much better than Bitcoin (BTC) and Ethereum (ETH), the top two cryptocurrencies in the cryptocurrency market.
Metrics show BTC is down 66% since this time last year, while ETH has lost just over 70% since last year. Like cryptocurrency enthusiasts, precious metals advocates see 2023 seeing silver and gold rise in value.