Record Highs for Gold and Silver Prices in 2025: Promising Forecast for 2026
Vaneck CEO Jan Van Eck jumps in on the A.I. bubble debate and explains his outlook for gold on ‘Barron’s Roundtable.’
Gold has experienced a remarkable surge, achieving its best percentage gain since 1979. This unexpected rise caught even the most optimistic analysts off guard as Wall Street firms scrambled to capitalize on the upward trend. The precious metal, which was valued at $2,606 in December 2024, skyrocketed over 66% in 2025, ultimately stabilizing around $4,325 by year-end.
Looking forward, financial institutions such as Bank of America predict that the price of gold could reach $5,000 per ounce. This forecast is driven by ongoing central bank purchases, increasing deficits linked to U.S. fiscal policy, and a weakening U.S. dollar, which recorded its worst performance since 2017. The Wall Street Journal Dollar Index fell by over 6%, as reported by Dow Jones Market Data Group.
BofA Gold Forecast 2026: $5,000
“Gold remains underinvested at the moment. Typically, gold markets don’t end because they become overbought; they conclude when the fundamental drivers that initiated the bull market dissipate. Currently, we don’t see that happening,” stated Bank of America strategist Michael Widner during a metals roundtable in mid-December.
‘PAWN STARS’ HOST WEIGHS IN ON RECORD YEAR FOR GOLD, SILVER
Gold prices hit record highs in 2025. (iStock / iStock)
Bank of America’s gold price target anticipates a 14% increase from current levels, although Widner cautions that “a hawkish tilt by the Fed poses a risk.”
ELON MUSK SOUNDS ALARM ON SILVER’S WINNING STREAK
Silver prices soared over 142% in 2025. (Getty Images / Getty Images)
In addition to gold, silver also had a record-breaking year, gaining over 142%, while copper saw a significant increase of over 41%, marking its largest annual percentage gain since 2009.
Exchange-traded funds tied to precious metals, such as the SPDR Gold Trust, the iShares Silver Trust, and the United States Copper Fund, mirrored the gains of the metals in 2025.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – USD ACC | 398.05 | +1.74 | +0.44% |
| SLV | ISHARES SILVER TRUST – USD ACC | 65.71 | +1.29 | +2.00% |
| CPER | UNITED STS COMMODITY INDEX FD COM UNIT REPSTG U S COPPER | 33.60 | +0.34 | +1.02% |
MacroMavens President Stephanie Pomboy, although surprised by the rapid rally in precious metals, anticipates further gains this year.
Copper cable at the Parus Electro LLC production site in Moscow, Russia. (Andrey Rudakov/Bloomberg / Getty Images)
“I am surprised at the speed at which we reached these numbers, but I believe there is much more to come,” Pomboy told FOX Business’ Charles Payne. “The rationale for investing in hard assets over paper has just begun to materialize, primarily due to my forecast of a return to quantitative easing, which we are witnessing. Although the Federal Reserve may not label it as QE, they are indeed taking steps in that direction. As we transition into 2026, I expect the balance sheet to become the primary source of monetary stimulus.”
“The expansion of the balance sheet equates to monetary debasement, which is highly beneficial for precious metals,” she added.
MORTGAGE RATES HIT 2025 LOWS AT YEAR-END
Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on December 10, 2025 in Washington, D.C. (Getty Images)
FED CUTS INTEREST RATES FOR THIRD STRAIGHT TIME
The Federal Reserve implemented a quarter-point interest rate cut in December, marking the third consecutive reduction in 2025. Officials also indicated a return to treasury buying.
“As outlined in a statement from the Federal Reserve Bank of New York, reserve management purchases will total $40 billion in the first month and may remain elevated for several months to address anticipated near-term pressures in money markets. Following this, we expect the size of reserve management purchases to decrease, although the actual pace will depend on market conditions,” Chairman Jerome Powell explained during his December press conference.
Vaneck CEO Jan Van Eck jumps in on the A.I. bubble debate and explains his outlook for gold on ‘Barron’s Roundtable.’
Gold has experienced a remarkable surge, achieving its best percentage gain since 1979. This unexpected rise caught even the most optimistic analysts off guard as Wall Street firms scrambled to capitalize on the upward trend. The precious metal, which was valued at $2,606 in December 2024, skyrocketed over 66% in 2025, ultimately stabilizing around $4,325 by year-end.
Looking forward, financial institutions such as Bank of America predict that the price of gold could reach $5,000 per ounce. This forecast is driven by ongoing central bank purchases, increasing deficits linked to U.S. fiscal policy, and a weakening U.S. dollar, which recorded its worst performance since 2017. The Wall Street Journal Dollar Index fell by over 6%, as reported by Dow Jones Market Data Group.
BofA Gold Forecast 2026: $5,000
“Gold remains underinvested at the moment. Typically, gold markets don’t end because they become overbought; they conclude when the fundamental drivers that initiated the bull market dissipate. Currently, we don’t see that happening,” stated Bank of America strategist Michael Widner during a metals roundtable in mid-December.
‘PAWN STARS’ HOST WEIGHS IN ON RECORD YEAR FOR GOLD, SILVER
Gold prices hit record highs in 2025. (iStock / iStock)
Bank of America’s gold price target anticipates a 14% increase from current levels, although Widner cautions that “a hawkish tilt by the Fed poses a risk.”
ELON MUSK SOUNDS ALARM ON SILVER’S WINNING STREAK
Silver prices soared over 142% in 2025. (Getty Images / Getty Images)
In addition to gold, silver also had a record-breaking year, gaining over 142%, while copper saw a significant increase of over 41%, marking its largest annual percentage gain since 2009.
Exchange-traded funds tied to precious metals, such as the SPDR Gold Trust, the iShares Silver Trust, and the United States Copper Fund, mirrored the gains of the metals in 2025.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – USD ACC | 398.05 | +1.74 | +0.44% |
| SLV | ISHARES SILVER TRUST – USD ACC | 65.71 | +1.29 | +2.00% |
| CPER | UNITED STS COMMODITY INDEX FD COM UNIT REPSTG U S COPPER | 33.60 | +0.34 | +1.02% |
MacroMavens President Stephanie Pomboy, although surprised by the rapid rally in precious metals, anticipates further gains this year.
Copper cable at the Parus Electro LLC production site in Moscow, Russia. (Andrey Rudakov/Bloomberg / Getty Images)
“I am surprised at the speed at which we reached these numbers, but I believe there is much more to come,” Pomboy told FOX Business’ Charles Payne. “The rationale for investing in hard assets over paper has just begun to materialize, primarily due to my forecast of a return to quantitative easing, which we are witnessing. Although the Federal Reserve may not label it as QE, they are indeed taking steps in that direction. As we transition into 2026, I expect the balance sheet to become the primary source of monetary stimulus.”
“The expansion of the balance sheet equates to monetary debasement, which is highly beneficial for precious metals,” she added.
MORTGAGE RATES HIT 2025 LOWS AT YEAR-END
Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on December 10, 2025 in Washington, D.C. (Getty Images)
FED CUTS INTEREST RATES FOR THIRD STRAIGHT TIME
The Federal Reserve implemented a quarter-point interest rate cut in December, marking the third consecutive reduction in 2025. Officials also indicated a return to treasury buying.
“As outlined in a statement from the Federal Reserve Bank of New York, reserve management purchases will total $40 billion in the first month and may remain elevated for several months to address anticipated near-term pressures in money markets. Following this, we expect the size of reserve management purchases to decrease, although the actual pace will depend on market conditions,” Chairman Jerome Powell explained during his December press conference.
