Singapore Investors Get Mixed Signals from Precious Metals Market
Precious metals like gold, silver, platinum, and palladium have seen significant price swings in 2026 due to changing interest rate expectations and geopolitical uncertainty.
Gold prices hit a record high of US$5,589.38 an ounce on January 28 but then retreated sharply, falling below US$4,000 in July before recovering to around US$4,400 by August 12.
William Adams from Fastmarkets expects gold and silver prices to rise again due to longer-term trends such as de-dollarisation, growing government debt, and persistent geopolitical risks.
Alexandra Symeonidi from William Blair sees gold as having the strongest upside potential among precious metals, citing sustained central bank buying and a recovery in investor demand.
Silver prices also suffered a reversal, surging to US$118 an ounce in January before plunging 53% to around US$55 in July but have since recovered to around US$65.
Josh Gilbert from eToro noted that silver shares some of gold's safe-haven appeal but is more exposed to the economic cycle due to its industrial uses.