StoneX Bullion Weekly Market Condition Summary - Perspectives and Trends Towards 2026 | Gallery posted by CTain

StoneX Bullion's weekly analysis looks back at the end of 2025 to forecast the precious metals market outlook for 2026, in essence as follows:

📌 1. Precious Metals Market Overview in 2025

• Gold prices reach new highs in nominal and real terms in 2025.

• The London silver market faced severe tightening in October, but the pressure has now declined somewhat but has not been exhausted.

• The demand for real gold and silver also recovered, especially during the harvest season and festivals in India, such as Diwali, which stimulated the bustling demand for gold and silver.

📌 2. Supporting factors and risks

Contributing factors:

• Geopolitical tensions in many regions remain unresolved, such as U.S.-China relations, the Middle East conflict, and the situation in Ukraine-Russia.

• The tide of "hedging," whereby investors want non-dollar assets, results in gold playing a key role in hedging.

• Interest in investing in gold through ETFs and accumulation by the investment sector remains strong.

Risk factors:

• The independence of the Federal Reserve is under political pressure, which can create uncertainty for monetary policy.

• Money and money markets can face high volatility, especially money, which can fall as market movements change.

📌 3. Trends for 2026

Gold:

• Still supported by the buying force and the uncertainty of the global economy.

• The market may still see continued price increases, but the momentum of the price hike in 2025 may slow down and there is still a significant contribution level above $3,500 (about 140,000 baht / oz) * *.

• Legal and monetary policy decisions may affect the price of gold in 2026.

Silver (Silver):

• Markets remain strong, especially in the London and U.S. markets, which may continue to affect liquidity.

• Prices continue to move strongly, but there is a risk of serious declines as the momentum changes.

📌 4. Overview summary

• 2025 was a record year for gold prices and hot gold and silver movements.

• In 2026, the price of gold is expected to still be driven by shelter and geopolitical factors, but the momentum of the price increase may slow down gradually.

• The silver market is still highly tense and may face more volatility than gold.

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