Gold and Silver

In today’s edition, we explore the massive bull run in gold and silver equities and how some of these same catalysts will likely carry into 2026.

Gold and silver mining ETFs have trounced the general market since 2025, and these investment products are worth keeping an eye on in 2026 and beyond!

Gold and Silver Outlook

After a decade of silence, gold and silver stocks have entered a massive bull market.

Precious metals stocks have rallied on the back of massive economic and geopolitical concerns in recent years. However, we are still likely in the early innings of this bull market, as economic catalysts remain in place and the market has been flooded with a wave of new buyers.

During 2025, the price of gold and silver increased by 65% and 150%, respectively, and many analysts are bullish about the potential of precious metals for the rest of this decade.

Gold and silver mining stocks are interesting vehicles to consider in this environment, and they can have stronger runs relative to the spot price of gold and silver.

Today’s newsletter will explore some of the exchange-traded funds that serve as an alternative for those who don’t want to invest in physical gold or silver.

Benefits of Gold and Silver ETFs

Investing in physical precious metals is a solid investment strategy for those who want to protect their assets from inflation and sell offs in the stock market.

However, investing directly in gold and silver mining equities can be a solid strategy during bull markets, as the increased volatility can allow these equities to return at a much stronger rate.

On top of this, investing in these funds provides investors with much stronger liquidity, as investors can sell instantly and receive their funds in days when they want to sell a stock or an ETF.

Gold and silver mining ETFs have trounced the S&P 500 in the past year, indicating how alternative investments are coming into focus as global risks accelerate.

For example, select gold mining exchange-traded funds have soared by over 140% in the past year, well ahead of the spot price of gold. Silver mining equities have delivered a similarly high gain during the same period, returning over 160%.

These exchanged funds are highly diversified investment products that invest in a basket of gold and silver mining stocks. This approach allows investors to minimize the risk associated with investing in individual stocks and helps them perform in line with the general market.

Investing in a combination of gold and silver ETFs provides unique diversification benefits, as each asset has different catalysts in place. Gold is often purchased as an insurance asset by investors who want to avoid inflationary and political risks. Silver, on the other hand, has this characteristic but is also supported by the strong industrial demand for silver.

Gold Mining ETFs to Check Out

The price of gold has entered a new growth cycle beginning in 2024, when it began to outpace its previous gradual ascent between 2016-2024.

The combination of economic uncertainty, soaring inflation, and heightened geopolitical tensions has all been a catalyst for the massive spike in the price of gold in the past twelve months.

Central Banks have also been a major driver for the increased demand for gold, as many Central Banks have swapped treasuries and other investments for physical gold.

Gold mining equities are an excellent, more volatile play on the gold price movement, which has the potential to massively outperform the increase in the price of gold.

The VanEck Gold Miners ETF (GDX) has returned around 417% during the past decade, well ahead of the gain of the S&P 500. Notably, most of these gains began in 2025, now that gold has gained momentum and become more popular with investors.

Another more volatile option to consider is the VanEck Gold Junior Miners, which follows an index of popular junior gold mining companies.

As economic and geopolitical uncertainties continue, gold will continue to be a suitable inflation hedge for retail investors, institutional investors, and Central Banks seeking to diversify away from the US markets and other risky markets.

Gold has been a consistent performer in the past few decades, including after it bottomed out at $253/ounce in 1999, and remains relevant today as investors search for less risky alternatives in the market with proven credibility.

Silver Mining ETFs to Check out

Silver is a unique investment vehicle for investors to consider, as it serves as an inflation hedge due to the demand for physical silver, and also has many industrial applications.

The versatility of silver is one factor that makes it a very special investment opportunity, as industrial demand from areas like solar and electric vehicles can also help support the price of silver.

As the demand for many of these industrial products continues to rise, silver mining companies have been troubling meeting the necessary supply of silver. Silver has been in a supply deficit during the past four years, which finally resulted in the massive price spike that we have seen in the past year.

Investing in silver mining companies is a great way to gain exposure to this market, as many companies will have to boost silver production on the back of this new industrial demand.

The Global X Silver Miners ETF (SIL) is one product to consider. This ETF invests in 43 larger silver mining companies globally. Investors can also consider the Amplify Junior Silver Miners ETF (SILJ), which invests in companies with smaller market capitalizations.

A Solid Alternative

Gold and silver mining equities still carry some of the same risks as traditional equities, as they have historically been proven to be vulnerable to pullbacks during risky market conditions. However, gold has a long-term history of weathering economic storms and performing well following many crises, all the way back to the Great Depression. Similarly, silver has been a solid inflation hedge that has also benefited from increased industrial demand.

Gold and silver stocks are a more convenient and liquid alternative for investors who are bullish on precious metals and want to diversify their portfolio. 2025 provided a clear signal to the market, and this bullish trend could continue throughout this decade.