Angeline Ong, Investment Analyst and Presenter at IG, outlines why the outlook for metals is turning increasingly compelling as we head into 2026, with shifting central-bank behaviour, easing monetary policy and tightening supply dynamics reshaping the prospects for gold, silver and the wider metals complex.
Angeline Ong, Investment Analyst and Presenter at investing and trading platform IG, said:
“Gold and silver are back in the spotlight, and this time it’s not just retail FOMO – it’s the world’s central banks quietly shifting away from the dollar. As some countries trim their US dollar reserves, they’re parking more of that firepower in bullion, adding a powerful, steady bid under precious metals.
“Hopes for one or two more Fed cuts are pouring fuel on the move, with the softer dollar and worries about slower US growth giving gold and silver an extra tailwind. Momentum money is piling in too, with investors chasing the trend via ETFs and leveraged products, turning what started as a central‑bank diversification story into a full‑blown bull run.
- “Gold now looks like it’s limbering up to take out 4,500 dollars an ounce, with a shot at the big, round 5,000 level next year if this macro cocktail holds.
- “Silver, the high‑beta cousin, is set to tag along – and could easily steal the show into 2026 as tight physical markets and industrial demand kick in.
- “Platinum has hit its highest level in more than 17 years, while palladium a near three-year high. The two have been relatively undervalued in 2025 and could lead the pack in 2026.
- “Copper is seeing tight supply and a bullish outlook on long-term demand. Copper is also essential for building data centres. With rising signs of growing supply stress, copper could be the outlier with the biggest price gains in the metals market in 2026.”
