1-year chart of gold and silver – 2025 was a good year
*all charts from tradingview.com
This bullish trend in precious metals has quickly carried over to the new year. Precious metals are off to a fast start in 2026. Three weeks into January and gold is up 14% and silver is up 38%. Those gains are making waves in financial markets. The mainstream media is paying attention. The financial media is paying attention. And investors are paying attention. In this report I am going to cover three key questions that many of my clients are asking right now:
- why precious metals rallied in 2025.
- what to expect next from precious metals in 2026.
- how to invest in precious metals.
- High inflation: the official rate of inflation has improved in the last few years, but as consumers we all know that prices of everything remain sky high.
- Weakness in the us dollar: The us has a high level of debt and investors are worried about long-term weakness in the us dollar.
- Preference for tangible investments: We live in an highly digital world and gold is an attractive option for investors looking for tangible assets.
- Investing in precious metals is cool again: Investors were not thinking about gold and silver for many years as prices languished through a 12-year bear market from 2011 to 2023. That has changed. Investors are enthusiastic about gold and silver again.
I expect the short-term catalysts listed above to remain in play – and possibly strengthen. But probably more important, I see a powerful long-term trend kicking in. Precious metals have a history of operating in long-term cycles. Ten years in a bear market, and ten years in a bull market. Precious metals were in a bear market from 2011 to 2023, twelve years. That bear market ended in 2024 so we’re only two years into a potential 10-year bull market. Even if this is a shorter cycle, precious metals should do well in next couple of years.
This is the key factor on my forecast: For investors who bought precious metals in the last two years, congrats, you are in at a good price and you’re probably sitting on a nice gain. Looking forward, for investors who want to add more shares or invest for the first time – here is my plan. If I invest in precious metals in 2026 I will only buy when prices are down or prices have consolidated for a few weeks or months on the chart.
Take a look below at the long-term charts on gold and silver. This chart captures how powerful this rally in precious metals has been for the last two years. This chart also shows me that in the short run there’s no question that gold and silver are overbought. That’s why I want to be patient and look for a correction before making new moves.
Gold 50-year chart – huge breakout from $2,000
Silver 35-year chart – price went vertical – very wild.
How can I invest in precious metals? I am going to share three of my favorite stocks to invest in gold and silver.
- SPDR Gold Trust (NYSE: GLD): This ETF tracks the price of gold. This is the most popular gold fund in the market.
- iShares Silver Trust (NYSE: SLV): This ETF tracks the price of silver. This is the most popular silver fund in the market.
- VanEck Junior Gold Miners (NYSE: GDXJ): This is an ETF that owns a group of gold and silver mining companies. These companies offer excellent exposure to the underlying price of gold and silver and that’s why this fund has rallied big in the last two years.
The big picture on precious metals: Precious metals have been strong for two years and they are off to a hot start in 2026. I am optimistic on more upside this year, but in light of the huge gains in the last two years, I will be looking to invest when prices are down or consolidating on the chart.
