This year is proving to be an incredibly difficult one to make forecasts for, especially as the leadership of the world's largest economy seems to be intent on re-drawing the global order, one that the US itself played the biggest role in creating. This makes the pundit's task doubly difficult, as US policy is now the toughest to predict, but its impact will have reverberations across financial markets.
Precious Metals: Gold and Silver To Shine?
The prospects for both gold and silver still look good as we head into 2026. Gold has now broken the $4500 barrier and much of the rationale for its performance still remains in place. We anticipate gold will have another good year with further buying from everyone really, including retail punters and central banks. This will also further boost the stock price of larger gold producers. A $5000 per ounce gold price looks eminently achievable, potentially in Q1.
Silver was off to the races as well in 2025. December saw the price of silver climb to a new all-time high, as the metal continued to benefit from strong industrial demand, a continued supply deficit plus a weak greenback. Analysts reckon US Dollar weakness and the possible appointment of a more dovish Federal Reserve Chair this year, are also going to contribute to the metal's surge. Silver has now broken $80/oz and is positioned to add to that in the course of Q1. The $100 level looks eminently achievable in the next couple of months.
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