Precious Metals See Fluctuating Prices Amid Global Uncertainty

Gold and other precious metals have seen significant fluctuations in 2026 due to changing interest rate expectations and geopolitical uncertainty.

Despite being grouped together as a single alternative asset class, each metal has unique characteristics that impact its investment potential.

Gary Adams, director of market insights for metals at Fastmarkets, expects gold and silver prices to rise again, citing long-term trends including a shift away from globalization, de-dollarization, growing government debt in Western economies, and persistent geopolitical risks.

Adams notes that higher oil prices stemming from the Iran conflict have put pressure on some currencies, prompting central banks to sell gold to support their currencies. However, he believes these pressures are temporary, and once they fade, gold should resume its move higher, with silver likely to follow.