<figure id="attachment_3193126" aria-describedby="caption-attachment-3193126" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="wp-image-3193126 size-full" src="https://media.freemalaysiatoday.com/wp-content/uploads/2025/10/e490d08a-gold-1.jpg" alt="Gold" width="1600" height="1000" /><figcaption id="caption-attachment-3193126" class="wp-caption-text">Gold gained 0.7% to US$4,348.42 an ounce. (Freepik pic)</figcaption></figure>
SINGAPORE: Gold and silver advanced as trading in 2026 kicked off, building on their best annual performances since 1979.
Bullion rose toward US$4,350 an ounce, as silver gained more than 1%.
While traders have flagged that metals could do well in 2026 on further US interest-rate cuts and dollar weakness, there’s near-term concern that broad portfolio index re-balancing may pressure prices.
Given the metals have rallied, their presence in indices may have exceeded target allocations, prompting passive tracking funds to sell some contracts.
“We expect a massive 13% of aggregate open interest in Comex silver markets will be sold over the coming two weeks, to result in a dramatic repricing lower,” Daniel Ghali, a senior commodity strategist at TD Securities, wrote in a note.
Gold gained 0.7% to US$4,348.42 an ounce at 8am in Singapore.
The Bloomberg Dollar Spot Index was flat. Silver advanced 1.5% to US$72.7175.
Palladium and platinum both gained nearly 2%.
Trading may be thin today given that several major markets, including Japan and China, remain on holiday.

MatchPoint Times

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