Blockbuster

Gold and silver have seen a rollercoaster end to a year in which their prices are on track to record their biggest annual gains since 1979.

The price of gold soared by more than 60% this year to hit a record high of more than $4,549 (£3,378) an ounce before slipping after Christmas to stand at about $4,350 on New Year’s Eve.

At the same time, silver was trading at about $74 an ounce after hitting an all-time high of of $83.62 on Monday.

This year’s gains were fuelled by a number of reasons including expectations of more interest rate cuts, gold purchases by central banks and as investors buy so-called “safe haven” assets due to concerns about global tensions and economic uncertainty.

“Gold and silver prices are experiencing a notable rise due to the interplay of several economic, investment, and geopolitical factors,” said Rania Gule from trading platform XS.com.

The main driver of the price rises of precious metals, she added, are expectations that the US Federal Reserve will cut interest rates again in 2026.

Also this year, central banks around the world added hundreds of tons of gold to their reserves, according to the World Gold Council trade association.

Daniel Takieddine, co-founder of investment firm Sky Links Capital Group, points to “supply tightness and industrial demand” for helping to push up the price of silver.

China, which is the world’s second biggest producer of silver, has said it would restrict the export of the precious metal.

In October, China’s Ministry of Commerce announced new restrictions on exports of silver as well as the metals tungsten and antimony to “to step up the protection of resources and the environment”.

Responding to a post on social media about Chinese government restrictions on silver exports, Tesla boss Elon Musk said: “This is not good. Silver is needed in many industrial processes.”

Mr Takieddine also highlighted the large amounts of money that have flowed into the precious metals market through investments like exchange-traded funds (ETFs).

ETFs are baskets of investments that trade on a stock exchange like a single stock. They can be seen as a convenient way to trade precious metals as investors do not have to take possession of physical bullion.

Ms Gule said she expects gold to continue to rise in 2026 but “at a more stable pace compared to the record highs observed in 2025”.

Silver also has the potential to rise again in the coming year, said Mr Takieddine. But he warns “rallies may be followed by sharper corrections.”

Favourite Anthony Joshua tips the scales more than 12 kilos heavier than YouTuber-turned-boxer Jake Paul at weigh-in.

Former heavyweight world champion Anthony Joshua easily made weight ahead of his fight against social media boxing disruptor Jake Paul at Thursday’s official weigh-in in Miami.

Joshua, who under the rules of the fight, couldn’t weigh more than 245 pounds (111kg), tipped the scales at 243.4 pounds (110kg).

Joshua (28-4, 25 KOs), who usually fights in the heavyweight classification at about 250 pounds (11kg), was the lightest he has been since he dropped to 240 pounds (109kg) for his first heavyweight title fight against Oleksandr Usyk on September 25, 2021.

Paul (12-1, 7 KOs) weighed in at a bulky 216 pounds (98kg) – but still more than two stones, or 12.7 kilogrammes, less than the Briton, who is 13 centimetres taller at 1.98m (Six feet, six inches).

It was just the second time in his professional career that the American weighed in above his usual cruiserweight limit of 91kg, or 200 pounds.

After the weigh-in, Paul, who excitedly took to the stage first and jeered up the crowd, claimed Joshua was nervous heading into the fight and said he would “shock the world” on Friday.

“I smell fear. I see something in his eyes, I truly do,” Paul said.

“The pressure is on him. I’m fighting free. I’ve already won. This is a lose-lose situation for him. I’ve got him right where I want him.”

Joshua, who remained composed throughout the weigh-in, other than when he pushed Paul’s fist away from his face and exclaimed “don’t touch me” during the promotional stare off, said his talent would prevail against the smaller, less experienced boxer.

“I’ll just outclass this kid. I’m a serious fighter. That’s the difference. I’m a serious, serious fighter,” the 2012 Olympic champion said.

The fight will take place at Miami’s Kaseya Center at 10:30pm on Friday (03:30 GMT Saturday).

The contest is an eight-round sanctioned bout with 10-ounce gloves to be used.

Joshua is returning to the ring for the first time since his knockout defeat to fellow Briton Daniel Dubois in September 2024.

In the weigh-in for the co-main event, holder Alycia Baumgardner came in at 129.2 pounds (58.6kg) while challenger Leila Beaudoin came in at 130 pounds (58.9kg) ahead of their unified junior lightweight title bout.

Baumgardner hasn’t been beaten since 2018 and is the strong favourite to retain her titles.