Gold and Silver Open 2026 Higher After Best Annual Performance Since 1979
Gold and silver started 2026 on a strong note, building on their best yearly gains since 1979.
As of 8:00 am in Singapore, gold rose 0.7% to $4,348.42 an ounce, while silver gained 1.5% to $72.7175. Other precious metals also advanced, with palladium and platinum climbing nearly 2% each. The Bloomberg Dollar Spot Index remained largely flat.
Analysts say metals could benefit this year from potential US interest-rate cuts and a weaker dollar. However, there are near-term pressures from portfolio rebalancing, as some passive tracking funds may reduce holdings after metals’ strong rally.
Daniel Ghali, senior commodity strategist at TD Securities, noted, “We expect roughly 13% of aggregate open interest in Comex silver markets to be sold over the next two weeks, which could trigger a notable repricing lower.”
Trading volumes may remain thin on Friday, as major markets, including Japan and China, are still observing holidays.
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