Gold also pushed to new records as investors reacted to prospects of interest rate cuts under a new Federal Reserve leadership in 2026, weaker bond yields, and growing concerns about long-term US dollar debasement. At the same time, Bitcoin stayed largely flat through December. The metals rally also reignited a long-running argument over stores of value, with Bitcoin supporters pointing to its fixed supply and long-term outperformance versus gold and silver, while critics argue recent years favor traditional commodities. The discussion was escalated by a much weaker US dollar, which many analysts see as a structural tailwind for scarce assets across both markets.

Silver Surges to Record Highs

Silver prices surged to fresh all-time highs…