Analysts predict that 13% of total open interest in NYMEX silver will be sold off, potentially leading to a significant price revaluation and a decline.

PANews reported on January 2nd that, according to Jinshi, gold and silver prices both rose at the start of trading in 2026, continuing their best annual performance since 1979. However, recent market concerns suggest that widespread index rebalancing could put pressure on prices. Tim Waterer, Chief Market Analyst at KCM Trade, stated, "Precious metals are likely to follow a similar trajectory in 2026 as in 2025, meaning there is forward momentum. Precious metals appear to be making up for the year-end sell-off, which had troubled them earlier this week. Year-end liquidation pressures have eased, and now fundamentals are back in focus, with gold poised to start 2026 on an upward trend." Daniel Ghali, Senior Commodity Strategist at TD Securities, wrote in a report, "We expect up to 13% of total open interest to be sold off in the Comex silver market over the next two weeks, which will lead to a significant price revaluation and a decline." He added that lower liquidity after the holidays could amplify price volatility.

Among major banks, a bullish outlook for gold prices this year remains dominant, especially given the Federal Reserve's anticipated further interest rate cuts and President Trump's efforts to reshape the Fed's leadership. Goldman Sachs stated last month that its baseline forecast for gold prices is $4,900 per ounce, with risks skewed to the upside.