Gold, Silver, Copper After 2025’s Record Rally: What Lies Ahead In 2026?

In a Business Today special Show, Commodities expert Ajay Kedia reflects on the historic 2025 bull run in precious metals, with silver delivering unprecedented ~145% returns and gold ~76%, far exceeding typical inflation-beating gains. He attributes this rally to multiple converging factors: ongoing geopolitical tensions, de-dollarization, aggressive central bank and ETF buying, and surging industrial demand for silver in EVs, solar, and clean energy. For 2026, Kedia remains bullish but expects moderated gains - 15-18% for gold and stronger upside for silver. He prefers silver over gold due to robust industrial offtake, recommends SIP-style investments via ETFs, and suggests 18-20% portfolio allocation to bullion amid expected volatility. Base metals like copper also look promising.