<\/p>\n
Gold and silver have seen a rollercoaster end to a year in which their prices are on track to record their biggest annual gains since 1979.<\/p>\n
The price of gold soared by more than 60% this year to hit a record high of more than $4,549 (\u00a33,378) an ounce before slipping after Christmas to stand at about $4,350 on New Year’s Eve.<\/p>\n
At the same time, silver was trading at about $74 an ounce after hitting an all-time high of of $83.62 on Monday.<\/p>\n
This year’s gains were fuelled by a number of reasons including expectations of more interest rate cuts, gold purchases by central banks and as investors buy so-called “safe haven” assets due to concerns about global tensions and economic uncertainty.<\/p>\n<\/div>\n
“Gold and silver prices are experiencing a notable rise due to the interplay of several economic, investment, and geopolitical factors,” said Rania Gule from trading platform XS.com.<\/p>\n
The main driver of the price rises of precious metals, she added, are expectations that the US Federal Reserve will cut interest rates again in 2026.<\/p>\n
Also this year, central banks around the world added hundreds of tons of gold to their reserves, according to the World Gold Council trade association.<\/p>\n
Daniel Takieddine, co-founder of investment firm Sky Links Capital Group, points to “supply tightness and industrial demand” for helping to push up the price of silver.<\/p>\n
China, which is the world’s second biggest producer of silver, has said it would restrict the export of the precious metal.<\/p>\n
In October, China’s Ministry of Commerce announced new restrictions on exports of silver as well as the metals tungsten and antimony to “to step up the protection of resources and the environment”.<\/p>\n
Responding to a post on social media about Chinese government restrictions on silver exports, Tesla boss Elon Musk said: “This is not good. Silver is needed in many industrial processes.”<\/p>\n
Mr Takieddine also highlighted the large amounts of money that have flowed into the precious metals market through investments like exchange-traded funds (ETFs).<\/p>\n
ETFs are baskets of investments that trade on a stock exchange like a single stock. They can be seen as a convenient way to trade precious metals as investors do not have to take possession of physical bullion.<\/p>\n
Ms Gule said she expects gold to continue to rise in 2026 but “at a more stable pace compared to the record highs observed in 2025”.<\/p>\n
Silver also has the potential to rise again in the coming year, said Mr Takieddine. But he warns “rallies may be followed by sharper corrections.”<\/p>\n<\/div>\n
#Gold #silver #rollercoaster #blockbuster #year<\/p>\n","protected":false},"excerpt":{"rendered":"
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