GOLD Gold has surged to record levels, climbing above $3,000 per ounce as central bank purchases and strong demand from Asian buyers push prices higher. Additional gains remain possible as more North American investors, who have largely stayed on the sidelines, begin to enter the market. Gold’s appeal as a store of value, a hedge against inflation and geopolitical uncertainty, as well as its limited supply, underpin the current rally.
SILVER Silver combines the characteristics of a precious metal with important industrial uses, making it an attractive investment case. It is widely used in electronics, solar energy technologies and components for electric vehicles (EVs), among other industrial applications. Given these structural demand drivers, silver appears undervalued relative to gold, suggesting potential upside if industrial demand continues to grow and investors shift toward precious metals.
“I think we’re in a long-term bull market* in Gold. We’re seeing reserve accumulation by central banks. I follow it closely. It’s my biggest position.” – Scott Bessent, U.S. Secretary of the Treasury, Nov. 4, 2024.