Gold, Silver Soar into 2026 After Best Year Since 1979; Near-Term Price Pressure Looms

• Gold and silver began 2026 with significant gains, extending their best annual performance since 1979.
• Gold climbed 0.7% to $4,348.42 an ounce, while silver advanced 1.5% to $72.7175, with palladium and platinum also seeing nearly 2% gains.
• Metals are expected to perform well in 2026 driven by anticipated US interest-rate cuts and a weaker dollar.
• Near-term concerns exist regarding potential price pressure from broad portfolio index re-balancing, as passive funds may sell contracts.
• TD Securities strategist Daniel Ghali forecasts a "dramatic repricing lower" for Comex silver, with 13% of open interest expected to be sold.

Why It Matters: Precious metals start 2026 strong but face near-term selling pressure from portfolio re-balancing.