Gold and silver open 2026 with gains following huge annual surge

Gold prices rose toward $4,350 an ounce, and silver gained more than 1%, building on their best annual performances since 1979.

Prices of gold and silver advanced as trading in 2026 kicked off, building on their best annual performances since 1979.

Gold and silver are likely do well in 2026 on further US interest-rate cuts and dollar weakness. (Reuters)

Gold gained 0.7% to $4,348.42 an ounce at 8:00 am in Singapore, while silver was up 1.5% at $72.7175. Palladium and platinum gained nearly 2% each. The Bloomberg Dollar Spot Index was flat.

While traders have flagged the metals could do well in 2026 on further US interest-rate cuts and dollar weakness, there’s near-term concern that broad portfolio index re-balancing may pressure prices. Given the metals have rallied, their presence in indices may have exceeded target allocations, prompting passive tracking funds to sell some contracts.

“We expect a massive 13% of aggregate open interest in Comex silver markets will be sold over the coming two weeks, to result in a dramatic repricing lower,” Daniel Ghali, a senior commodity strategist at TD Securities, wrote in a note.

Trading may be thin on Friday given that several major markets, including Japan and China, remain on holiday.