Precious metals like gold have seemed like the ultimate “Trump trade.” While markets have been on tenterhooks amid all the uncertainty and geopolitical tensions, precious metals were the best-performing major asset class in 2025. While a section of the market was apprehensive about precious metals, particularly silver (SIH26), heading into 2026, prices have continued to rise.
Precious metal companies are experiencing a rally of a lifetime, thanks to the record or near-record cash flows they are generating. Companies have used these bumper cash flows to deleverage their balance sheets and increase shareholder payouts through dividends and buybacks.
