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Slam dunk from silver, gold creeping back up

ended 07. January 2026

Gold edged above $4500 an ounce again yesterday, while silver rose to just over $83 an ounce. Same old questions, as this story is a media winner - what's driving this and are $5000 gold and $100 silver possible within H1? Risks for investors, possible upside, you know the drill. Thoughts ASAP please as writing story this AM.

4 responses from the Newspage community

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Editor
Anita Wright
Chartered Financial Planner at Ribble Wealth Management
After years of being pushed lower in the paper market and effectively suppressed, silver has broken out into a new trading range — roughly $65 to $90. Add in a tightening supply-and-demand backdrop and what looks like a “silver squeeze” risk has simply started to express itself in price. Gold is telling a slightly different, bigger story. If the US dollar no longer feels like the obvious hedge and bonds do not offer the protection investors expect, gold becomes the standout “edge” — the asset people reach for when they would rather not own credit risk. On that basis, the path of least resistance remains higher, and silver can still have further to run, particularly if the gold-to-silver ratio continues to normalise. The risk for investors is that breakouts are rarely smooth: these markets can be violently volatile, and pullbacks within a new range are normal
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Editor
Tony Redondo
Founder at Cosmos Currency Exchange
The "bullion boom" of 2025 has surged into 2026, driven by a "triple engine" of macroeconomic, geopolitical, and industrial factors. Safe haven buying spiked following the US military operation in Venezuela and President Maduro’s detention. Simultaneously, a "de-dollarisation" trend sees central banks in Poland, India, and China aggressively swapping dollar reserves for gold. Persistent US fiscal deficits and anticipated Fed rate cuts have lowered real yields, enhancing the appeal of non-yielding assets. Silver faces its fifth consecutive year of supply deficits, bolstered by its "US Critical Mineral" status due to essential roles in AI data centres, EVs, and solar tech. Bank of America suggests a mere 14% rise in investment demand could push gold to $5,000, while Goldman Sachs targets $85–$100 for silver. However, if "sticky" inflation prevents rate cuts, the rally's foundation may crumble, potentially sparking a sharp correction toward $3,500 gold.
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David Belle
Founder and Trader at Fink Money
The trend is your friend.

With current geopol tensions rising, it's likely metals retain more upside going into Feb at least.

We saw yesterday that gold is now the largest component of global reserves, not the dollar (but gold is still predominantly priced in USD).

The driving force behind this metals move (remember, copper, palladium and platinum are all shifting higher as well) is, for gold, the dash to hold reserves in gold at central banks but for the other metals, certainly the rush for components in chips, memory and infrastructure where there is a huge constraint in order books since they're filled so far out.

The key price currently in gold is at around the $3700, where if it trades below here I'd say the momentum is exhausted as that is the commonly used determinant for trend, the 200 daily moving average (this is the average price of the last 200 days of end of day prices).
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Nick Cawley
Analyst at Solomon Global
Global central banks continue their buying of gold reserves. This trend shows no signs of abating soon. Silver faces a compelling fundamental case for higher prices. The physical market is experiencing unprecedented tightness in available supply. Industrial demand continues to surge driven by green energy applications.
Trump's Venezuela action signals a more interventionist foreign policy. These manoeuvres create uncertainty typically benefitting precious metals. Gold & silver are set to thrive in this unpredictable environment.
The combination of accommodative monetary policy, geopolitical tensions & supply constraints creates a powerful bullish cocktail for precious metals.
Gold is likely to re-test & break above the recent ATH. Momentum will likely see $4750 traded over the coming weeks & $5000 is set to be tested in H1.
A break above silver’s high is very likely, then $100 is the next target. Price action is set to become increasingly volatile causing regular 10%+ daily swings.