This Week: Silver Wins Gold Medal, Gold Wins Silver
December 18, 2025Good evening ladies and gentlemen, welcome back to yet another mid-weekly review by The Australian Gold Fund and GoldHub Australia! Well, it's the holiday season and our traders seem to have put on their Santa Claus costumes already and have given us a spectacular rally mid-way through the week!
As of Wednesday, gold was trading above US$4,350/oz and silver hit an all time high of US$66/oz. The US labour reports hinted to unemployment rates shooting to an all time high in recent years, along with continued hopes of a couple rate cuts in 2026. Moreover, the ongoing geopolitical tensions between the US and Venezuela have seemed to fuel safe haven inflows into the yellow metal.
Meanwhile, the ASX-All Ordinaries Gold Index has hit an all time high of 18,424.38 points, following suit with gold. Evolution Mining (ASX: EVN) and Northern Star Resources (ASX: NST) have hit all-time highs, and Ramelius Resources (ASX: RMS) and Capricorn Metals (ASX: CMM) have hit near all-time highs. These producers have hit record valuations, but the story isn't as simple as buy, hold or sell. Yes, these producers have reached the peak of their valuations, but our managing partner Brian still hasn't completely written these stocks off. As we await the December quarter reports patiently, Brian has a strategy panned out to navigate these producers. Check out our latest weekly commentary where we dived into this further here!
And that's it! Thank you so much for tuning into this mid-week commentary, watch out for our new commentary on Sunday where we dive deeper into Brian's portfolio strategy for 2026, along with an outlook for our yellow metal! Until next time, see you then!
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Brian contributes his insights on precious metals and mining stocks via free and paid newsletters with independent publisher, Fat Tail Investment Research. You can learn about his work by visiting www.daily.fattail.com.au. Fat Tail Investment Research is part of The Agora, a renowned international financial solutions publisher.
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