Prospecting for golden opportunities

Rosemary Gallagher | Greg Macvean Photography

When I first started gathering my thoughts to compose this introductory column, it was easy to say why the precious metal looked so appealing. Its value had climbed above $5,000 per ounce for the first time in its lustrous history. But by yesterday things started to look a bit shakier for gold, with its value falling below its new headline rate and fluctuating.

The drop in the value of both gold and silver came as US President Trump announced that Kevin Warsh, a former Federal Reserve Governor, was his choice of nomination for the next Fed chair to follow Jerome Powell who, it’s fair to say, has fallen out of presidential favour. The announcement helped the dollar.

It’s too early to say whether this uncertainty around the value of gold is a blip or the start of a longer roller-coaster ride. Dan Coatsworth, head of markets at AJ Bell, comments: “Copper, gold and silver have all beaten a hasty retreat from their all-time highs, in part thanks to the move higher in the dollar and after an extraordinary surge, both last year and in the first weeks of 2026.

“Traders will be watching closely to see if this is a short-term correction or a more pronounced reversal of the big rally in these metals over recent times.”

For those planning for retirement, PensionBee had already set out factors to consider if you’re thinking about adding the yellow metal to your pension. It included the key message that gold should be kept in proportion “as a supporting player, not the main act” in your portfolio.

As with all investments, the expert guidance is to remember diversification is key and don’t pot all your eggs into one (gold) basket.

There’s lots to dive into in this latest Scotsman Money. To give you just a flavour, I had a really interesting time exploring the world of art investment. I spoke with successful Scottish artist Frank To about why it’s important people buy art because they connect with it on a personal level. I also discussed with a selection of collectors what draws them to certain pieces. And financial experts agree that it’s important to purchase art that you like, and regard any money that can be potentially made from it as a type of added bonus.

Meanwhile, Tom Ham of Calton explores the value of good investment advice as his firm marks its fifth anniversary, and Andrew Sutherland of Acumen Financial Planning discusses how much money is needed for retirement in our Q&A section.

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