The day after Christmas, gold and silver hit new highs again. The author of "Currency Wars" says, "Next year, gold will reach $10,000 and silver $200!"

The day after Christmas, gold and silver hit new highs again. The author of "Currency Wars" says, "Next year, gold will reach $10,000 and silver $200!"

The precious metals market continued its strong rally on the first trading day after Christmas, with silver hitting a record high and gold approaching its historical peak. Renowned economist Jim Rickards has made a stunning new prediction, believing gold prices could reach $10,000 in 2026, while silver may hit $200.

Spot silver rose 2.2% on Thursday to a record high of $73.44 per ounce, marking its fifth consecutive day of gains. Spot gold is closing in on its historic high of $4,525. Heightened geopolitical tensions in Venezuela have added to the safe-haven demand for precious metals, as the U.S. imposed a blockade on the country's oil tankers.

Additionally, traders are betting that the Federal Reserve will further cut interest rates in 2026, providing extra support for precious metals. Silver has surged 150% this year, with its rally accelerating since the historic short squeeze began last October.

Famous economist and bestselling author Jim Rickards said in a recent interview, “The factors driving the entire metals market rally will continue to play out next year. I wouldn't be surprised at all to see gold prices reach $10,000 and silver climb to $200.”

Silver Leads with Record Highs, Gold Follows Closely

Spot silver hit an intraday high of $73.4393 on Thursday, setting a new record and marking its fifth consecutive day of gains. Silver's gains this year total about 150%, making it the standout performer among precious metals.

Spot gold has also performed strongly, approaching the record high of $4,525 it set on Thursday. Continued geopolitical risks, the tense situation in Venezuela, and the U.S. blockade on the country’s oil shipments have further strengthened gold’s haven appeal.

Market expectations of further Fed rate cuts in 2026 also support precious metal prices, as a low interest-rate environment typically benefits non-yielding assets like gold and silver.

Jim Rickards Predicts an Explosion in Gold and Silver Prices by 2026

Renowned economist, financial analyst, and bestselling author Jim Rickards made an extremely optimistic forecast for the 2026 precious metals market in a recent interview. He stated that the traditional drivers of the current gold and silver bull market—central bank demand and relatively stagnant supply—will continue to play a role in 2026.

Rickards emphasized that increasing institutional investor demand, including from sovereign wealth funds and endowments, could further push prices higher. He noted that Europe's recent moves to seize Russian assets are also affecting gold demand, prompting countries to divest from assets that could be confiscated.

Rickards explained, “If you are Saudi Arabia, Japan, Brazil, or any major holder of U.S. Treasuries, you might wonder: what if the U.S. doesn’t like something I do? Maybe I should diversify more into gold.”

Silver Short Squeeze Drives Price Surge

Addressing the sharp rise in silver prices, Rickards analyzed that it is related to a supply-demand imbalance in the physical delivery market. He pointed out that in a market where the ratio of paper silver to physical silver is 100:1, the demand for physical delivery is driving prices up.

Since the historic short squeeze in October, the silver market’s rally has continued to accelerate. Tight supply and surging speculative demand have led to a substantial jump in silver prices in a short period of time.

Rickards concluded, “I won’t be surprised at all to see gold prices at $10,000 before the end of 2026—I think we’ll see it. Silver will follow suit, and by then you’ll see prices of $200 per ounce.”

Gold recently broke through the $4,500 mark, silver has exceeded $70, making this one of the best annual performances so far. Other metals like platinum and copper have also seen significant price increases.

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