A time for investment

2025 showed that almost all key investment instruments went through growth, corrections and a reassessment of risks — so when choosing a strategy for 2026, it is important to assess soberly not past returns but the resilience of assets in a changing world.

Precious metals

2025 was a record year for precious metals: all of them posted double-digit, and often triple-digit, percentage growth, reaching historic highs. Gold, for example, exceeded $4,500–4,600 per ounce, gaining about 70–72% over the year (its best annual gain since 1979). Silver reached $77–79 per ounce, up 140–169% for the year (record levels and the best result among all precious metals).

Price growth was driven by several factors: geopolitical tensions and the search for safe-haven assets, central-bank rate cuts, and strong industrial demand (precious metals are needed for catalytic converters and electronics and are used in green energy) led to supply shortages, especially for platinum and silver.

Other features of buying physical precious-metal bullion include low liquidity, storage difficulties, personal income tax upon sale, and increasing difficulties in taking bullion abroad.

Investments in unallocated metal accounts can be risky, as they are essentially a type of deposit and are not insured by the Deposit Insurance Agency.

If you are considering investing, take high volatility into account: prices are already at their peaks, and sharp corrections are possible.

Bitcoin and cryptocurrency

In 2025, the cryptocurrency market showed mixed dynamics: a strong start with new highs (USD 126,000 in October 2025), but a disappointing end to the year because of a correction and macroeconomic factors. At the end of December, bitcoin is trading in the USD 87,000–88,000 range. In other words, many investors who entered amid the hype had to realise losses.

Many major altcoins showed stagnation or negative returns for the year despite progress in their ecosystems.

Stocks

2025 was very successful for global stock markets, especially the US market: indices repeatedly reached historic highs, marking a third consecutive year of double-digit growth. Stocks, especially in the United States, became one of the year’s best assets thanks to the artificial-intelligence boom, Federal Reserve rate cuts and steady economic growth.

The only question is how ready you are, in the current situation, to accept the risks and difficulties associated with sanctions-related restrictions.

Antiques, art and collecting

They require considerable expertise on your part and no less luck. Prices in this market depend heavily on tastes and trends. Besides, to sell another Klimt at a record price, you had to buy it beforehand.

Real estate

Investment in real estate — residential, commercial or through funds — is often considered one of the most reliable ways to preserve and grow capital, especially over the long term. In 2025, according to surveys (for example, Gallup in the US ), real estate was again named the best long-term investment for many investors — for the 12th year in a row.

According to Uruguay’s National Institute of Statistics ( INE ), in the second quarter of 2025, the average price of new homes nationwide grew by 5.88% year on year (to about 90,000 Uruguayan pesos, or about USD 2,244 per m²).

In coastal areas, especially in the luxury segment of Punta del Este, prices increased by 8–12% over the year. The market was also highly active: total transaction volume reached record levels of more than USD 1.17 billion in the first half of 2025. Final figures will be available soon.

Growth was moderate, without signs of a “bubble”: the market was balanced and had good liquidity. Some experts noted temporary slowdowns in the middle of the year due to interest rates, but the overall picture for 2025 was positive, with strong momentum in sales, rentals and investment.