Gold and Silver in Focus: Record Highs, Market Shifts, and Strategic Opportunities for 2026

As we approach the end of 2025, the precious metals market continues to command attention. With gold holdings in exchange-traded funds (ETFs) climbing for the sixth straight month and silver recently hitting a record high, investors are showing clear signs of shifting away from traditional financial assets. At CanAm Bullion, we believe this is a pivotal moment to understand what’s driving these trends—and how they could shape your investment strategy going into 2026. 

 

Gold Demand Surging to 6-Month Highs 

 Gold-backed ETFs closed November with 3,932 tons under management—marking half a year of consistent growth. This renewed demand comes as investors seek alternatives to volatile currencies and bonds, with gold poised to record its strongest annual performance since 1979. As global uncertainty deepens, more investors are leaning into gold as a reliable store of value. 

 Meanwhile, Sibanye Stillwater’s three-year wage agreement with unions in South Africa reflects the steady operating environment for major producers, providing stability in an already strong gold market. 

 

Silver’s Historic Breakout and Platinum’s Lag 

 Silver stood out this past week, leading precious metals with a 4.85% gain. This performance is particularly notable given that silver usually requires a supportive gold market to maintain momentum. Its recent rally has sparked renewed interest from investors watching for continued upside. 

 On the other hand, platinum struggled, dipping by 1.3%. The Bank of Thailand’s decision to tighten gold transaction reporting rules and shrinking U.S. manufacturing data may have contributed to platinum’s muted movement. Add to that emerging concerns about currency volatility in Southeast Asia, and it’s clear that not all metals are riding the same wave. 

 

Why Streaming Models Are Losing Steam 

 Even with gold prices climbing, streaming and royalty companies haven’t kept pace. According to UBS, this is due to rising costs of new deals and stronger-than-expected results from traditional miners. This shift could mark a turning point in how institutional investors approach the sector—favoring physical exposure and mining equities over streaming models. 

 In parallel, Bank of America notes a declining correlation between gold and traditional assets like Treasuries. In 2025, gold has shown greater independence from both bonds and the U.S. dollar, a pattern that could redefine how investors use it to hedge portfolio risk. 

 

New Gold-Silver Projects Open Strategic Doors 

 Several companies are moving aggressively to expand their gold and silver portfolios. Mithril Silver and Gold Ltd. secured a purchase option on the La Dura gold-silver project in Mexico—a site rich in mining history and backed by strong historical data. The property includes a 60-ton-per-day facility and represents a key opportunity in the Americas. 

 Meanwhile, Perseus Mining Ltd. has made a bold bid for Predictive Discovery Ltd., surpassing a Canadian rival to lock in major African gold assets. These moves signal continued long-term confidence in gold’s upside. 

 And Barrick’s proposed IPO of key North American assets, including Nevada Gold Mines and Pueblo Viejo, could unlock up to 20% upside for shareholders, according to RBC. This could also attract fresh retail and institutional capital into the sector. 

 

Potential Risks Ahead 

 Despite strong momentum, investors must keep an eye on emerging risks. Zimbabwe’s proposal to double gold royalties could impact miner profitability and future exploration. Italy’s controversial move to declare its gold reserves as public property has also drawn criticism from the European Central Bank, citing concerns over government control and potential liquidation of bullion holdings. 

 Additionally, companies like First Majestic are raising large convertible notes, indicating that capital needs are increasing across the sector. While not inherently negative, these moves require careful monitoring as they could signal liquidity challenges or upcoming expansion plans. 

 

Don’t Miss the Signals 

 The signals are clear: precious metals are back in the spotlight. Gold and silver are not just riding short-term headlines—they’re supported by growing global demand, changing correlations, and structural shifts in investor behavior. 

 At CanAm Bullion, we’re here to help you make sense of these movements and align your portfolio with long-term value. Whether you’re a new investor or a seasoned stacker, now is a strategic time to evaluate your exposure to physical metals. 

 

Ready to take the next step? 

Explore our gold and silver bullion offerings at https://canambullion.ca, or speak with our team to learn how to diversify with real, tangible assets that hold value when others don’t.