Gold and Silver Prices Surge: New Year, Same Risks, And What Comes Next

In this presentation, Jeffrey Christian of CPM Group kicks off the new year with a review of what drove precious metals in 2025, and what will matter most in 2026. He breaks down the difference between headline price spikes and annual average prices, then walks through how investment demand caused record prices for  gold, silver,  and platinum; as we; as significant gains for palladium during the second half of the year.

Jeff also explains why it’s a mistake to treat silver’s rally as purely “silver-specific,” as the rally was across metals and other commodities points to macro forces, shifting risk perceptions, and uncertainty in the economic and political situations globally.

The video closes with an overview of CPM Group’s purpose in publishing these free market updates, what we are working on in 2026, and key dates for upcoming events.

#gold #silver #commodities #investing #trading

00:00 Welcome to 2026
01:03 2025 performance: headline vs annual average prices
03:22 CPM forecasting framework: monthly, quarterly, long-term
03:52 ETF flows: what changed in the second half of 2025
08:42 Silver isn’t the only story: broad commodity/macro drivers
12:50 2026 outlook: risks, uncertainty, and what could cool demand
20:33 Silver “deficits” & bad data: how narratives get built
27:37 Why CPM makes these videos + what’s coming next