2026 Charting the Course

Inflation as measured by CPI may have moderated over the last several months, but that doesn’t mean price changes have affected all goods and services equally. Over the last 25 years, food, housing, and medical care costs have risen at a rate greater than overall inflation. On the flip side, technological advancements and efficiencies have driven down the cost of goods like televisions, software, and cell phone services.  

“Silver and gold / Silver and gold / Everyone wishes for silver and gold” – the season for watching Rudolph might be over, but the precious metals rally isn’t. Silver, in particular, took off at the end of 2025 and into the new year, driven by limited supply, hedges against inflation and other macroeconomic- and policy- instability, and momentum.