Analyst: 13% of the total silver holdings in NYMEX will be sold off, potentially leading to a significant revaluation and decline in prices

PANews January 2 News, according to Jintiao, in 2026, trading started strong, and gold and silver prices both rose, continuing the best annual performance since 1979. However, recent market concerns about broad index rebalancing may put pressure on prices. KCM Trade Chief Market Analyst Tim Waterer said, “The trend of precious metals in 2026 is roughly the same as in 2025, meaning there is upward momentum. Precious metals seem to be making up for the end-of-year sell-off, which earlier this week caused some distress. The end-of-year liquidation pressure has eased, and fundamentals are once again in focus. Gold is set to start 2026 with an increase.”

TD Securities Senior Commodity Strategist Daniel Ghali wrote in a report, “We expect that in the next two weeks, up to 13% of the total holdings in the New York Mercantile Exchange (Comex) silver market will be sold off, leading to a significant revaluation and decline in prices.” He also added that lower liquidity after the holiday could amplify price volatility.

Among major banks, the bullish outlook for gold prices this year remains mainstream, especially considering that the Federal Reserve is expected to further cut interest rates and that U.S. President Trump is reshaping the Fed’s leadership. Goldman Sachs last month stated that its baseline forecast is for gold to rise to $4,900 per ounce, with risks skewed to the upside.