Here’s the setup for silver and gold heading into 2026

Precious Metals Performance - Precious metals, particularly silver, have shown significant gains in 2025, with silver up 154% year-to-date as of December 26, while gold and copper increased by 72% and 42% respectively [2] - Investors who held onto precious metals after a sharp pullback in early April have been rewarded, indicating a strong recovery in the market [1] Market Outlook for 2026 - The outlook for precious metals in 2026 suggests continued volatility, with expectations of price fluctuations despite potential increases [3] - Factors influencing the market include the recent decline in oil prices, which have reached near five-year lows, potentially affecting the overall commodities market [4] Sector Performance - The S&P 500 index has returned 19.4% for the year, with the semiconductor sector showing a notable return of 45.5% [4][6] - The communications sector has outperformed expectations, driven by major tech players like Alphabet Inc. and Meta Platforms Inc., which returned 66.6% and 14.4% respectively [5]