Daniel Varela discusses gold on RTS’s Forum Precious metals

Precious metals:
the reasons behind renewed and lasting interest

With gold trading around USD 4,500 per ounce and silver also continuing its upward trend, precious metals are once again at the centre of investors’ attention.

Speaking on Forum, RTS’s flagship current affairs programme, Daniel Varela, Chief Investment Officer at Piguet Galland, explains that this momentum cannot be attributed solely to geopolitical uncertainty.

Lower interest rates, a weaker US dollar and sustained gold purchases by central banks, particularly in emerging economies, are creating a structurally supportive environment for the yellow metal. This backdrop is also benefiting other metals such as silver and copper, driven both by their investment appeal and by strong industrial demand, notably linked to the energy transition and the development of artificial intelligence.

After a spectacular rise over the past two years, a period of consolidation cannot be ruled out. Nevertheless, fundamentals remain solid, helping to explain why gold continues to play a key role in diversification strategies as we approach 2026.

Listen to the full programme (french only)

Daniel Varela

dans le 19h30 de la RTS

Lien vers l'article