Peter Kinsella, UBP's Global Head of FX, sees gold as a solid portfolio anchor despite elevated prices. He's steering clear of silver rallies, warning investors shouldn't expect easy gains from the white metal's recent surge.

Global uncertainty and high debt levels are driving demand for precious metals as hedges. While silver has outperformed gold this year, Kinsella believes the rally lacks sustainable fundamentals compared to gold's established safe-haven role.

Investors should watch central bank policies and inflation data closely. Kinsella suggests gold remains attractive for long-term positioning, while silver's volatility makes it less suitable for conservative portfolios seeking stability.