Core Insights - Gold and silver prices have reached record highs in 2025, with predictions for further increases in 2026 driven by supply shortages, geopolitical tensions, and concerns over central bank independence [1][4] - The concept of "resource nationalism" is emerging, contributing to the upward trend in precious metal prices, as geopolitical risks escalate [2][3] Price Trends - In 2025, spot gold prices surged approximately 65%, while spot silver prices increased by about 150% [3] - As of early 2026, gold prices have risen over 7%, and silver prices have increased by more than 25% [3] Geopolitical Factors - The ongoing geopolitical uncertainties, including the U.S. controlling Venezuela and potential military actions regarding Greenland, are intensifying political risks that support precious metal prices [2] - The investigation into Federal Reserve Chairman Jerome Powell regarding the $2.5 billion renovation project has raised concerns about the Fed's independence, enhancing gold's appeal as a safe-haven asset [4] Market Dynamics - The silver market is experiencing a supply shortage due to export control measures from China, leading to significant price premiums in the Shanghai market compared to international prices [3] - The demand for silver is driven by its critical role in various industries, including electronics and automotive, indicating substantial potential for price increases [3] Investment Outlook - Analysts predict that gold could reach $5,000 per ounce and silver could surpass $100 per ounce in 2026, based on current market dynamics and geopolitical factors [2][3] - The expectation of continued loose monetary policy from the Federal Reserve is likely to support gold prices, with no immediate factors suggesting a decline in precious metal prices [4]