Banks are on track for a record $5 billion profit from precious metals trading in 2026, driven by surging investor interest and sharp price swings. JPMorgan Chase & Co. leads the pack with approximately $700 million earned from gold, silver and other precious metals trading in the first half of 2026, putting it on pace for its best annual result. The global banking sector is benefiting from energy and metals trading as geopolitical tensions and trade conflicts create pricing opportunities. Deutsche Bank AG has generated over $200 million in the first half, marking its strong return to bullion trading. Investors have flocked to high-octane instruments like short-dated options and leveraged ETFs, while traders profit from global pricing disconnects by flying bars across hubs.
Despite easing prices due to Middle East conflict and tightening monetary expectations, spot gold and silver remain more than double their 2024 levels.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing