As 2026 kicked off with the Trump administration’s intervention in Venezuela, we can say with confidence that heightened geopolitical uncertainty is likely to continue to drive investors towards hard assets and precious metals in particular.
This is a continuation of a theme which drove a significant precious metal price rally over the past 18 months. This was initially dominated by gold, a longstanding store of value and an alternative to fiat currencies, before spreading to silver, platinum and palladium. Despite pulling back from their highs, in 2025 alone gold rose 65%, silver 148%, platinum 127% and palladium 78%.
