Gold and Silver Industry & Investing News
Today’s gold and silver market news, curated from the best of GoldSilver's team and around the web. Everything precious metals investors need to know including updates on big price swings, macro analysis, and breaking stories. Check back often or subscribe to get the highlights in your inbox. Monitor live spot prices on our charts page.
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TOP NEWS"I Have Great Hope For the SECOND Half of this Administration" - Mike Maloney
Mike Maloney shares his optimism for the second half of this administration, thanks to the creation of the Department of Government Efficiency (DOGE).
Gold's November Pullback: Opportunity Knocks
Gold retreats from record highs but fundamentals remain strong. Expert analysis of market dynamics and institutional forecasts...
READ MOREGoldman Sachs Predicts Gold to Hit $3,000 by 2025
Goldman Sachs expert Samantha Dart attributes the surge in gold prices to central bank purchases, forecasting a rise to $3,000 per ounce by late 2025. Dart points to central bank acquisitions as the primary driver behind gold's price increase highlighting the significant impact of institutional buying on the precious metals market.
READ MOREBuffett's $325 Billion Question: Cash Cushion or Crash Concerns?
Warren Buffett's Berkshire Hathaway has amassed a record $325 billion cash pile, sparking speculation about his market outlook. While some interpret this as a bearish signal, experts argue it's a normalized cash-to-assets ratio for Berkshire. Buffett's recent stock sales, including reducing positions in Apple and Bank of America, have contributed to this cash accumulation. The lack of attractive investment opportunities at current valuations and potential preparation for leadership transition may explain this strategy, rather than solely anticipating a market downturn
READ MOREEconomy's Strength Prompts Fed to Rethink Rate Cut Plans
Recent economic data and proposed policies from the incoming Trump administration have prompted the Federal Reserve to adopt a more conservative stance on interest rate cuts. This change in outlook could lead to fewer reductions in 2025 than previously anticipated, potentially affecting mortgage rates, auto loans, and small business financing. The Fed now emphasizes a measured approach to rate decisions, citing the economy's current resilience.
READ MOREGold and Oil Rally Amid Escalating Ukraine Tensions
As the Russia-Ukraine conflict escalates, gold and oil prices surge while the euro weakens. Gold rose 5.4% this week to $2,688 an ounce, and Brent crude gained 4.5% to $74.29 a barrel. The U.S. dollar reached a two-year high as poor economic data and rising European gas prices pressured the euro. Tensions heightened after Russia fired a hypersonic missile into Ukraine, responding to Western weapons support for Kyiv.
READ MOREPound Plunges to 6-Month Low as UK Economy Falters
The British pound tumbled to its lowest level against the dollar since May, following weak economic data. November's business output shrank for the first time in over a year, while October's retail sales fell more than expected. This economic weakness may force the Bank of England to consider more aggressive rate cuts than previously anticipated.
READ MOREGoolsbee Hints at Cautious Approach to Future Fed Rate Cuts
Chicago Fed President Austan Goolsbee supports further interest rate cuts but suggests a slower pace may be appropriate. The Fed faces a debate on the speed and extent of rate reductions, with some officials concerned about stalled inflation progress and others worried about labor market cooling. Uncertainty surrounding President-elect Trump's policies adds complexity to the decision-making process. The upcoming December Fed meeting will be crucial in determining the next steps for monetary policy.
READ MOREChina Strikes Gold: 300-Tonne Deposit Found in Central Province
China has unearthed a massive gold deposit worth $83 billion in Hunan province. Geologists discovered over 40 gold veins containing 300 tonnes of gold within 2,000 meters depth at the Wangu gold field. This find could significantly boost China's gold production, which currently accounts for 10% of global output. The Hunan Academy of Geology predicts potential reserves exceeding 1,000 tonnes at depths beyond 3,000 meters.
READ MOREBarkin Sounds Alarm: US More Prone to Inflation Shocks
Richmond Fed President Tom Barkin warns that the US economy is now more vulnerable to inflation shocks than in previous years. While expecting overall inflation to continue declining, Barkin notes that businesses are more readily passing costs to consumers. He expresses concern about potential inflationary impacts from proposed policies, including tariffs and immigration changes, under a potential Trump administration.
READ MOREGold Shines as Tech Stocks Stumble: Four-Day Rally Continues
Gold prices continued their upward trend for the fourth consecutive day, driven by increased safe-haven demand amid disappointing tech earnings and ongoing geopolitical tensions. Spot gold rose 0.6% to $2,665.31 per ounce, with bullion up 4% for the week. Analysts attribute the surge more to falling stock markets following Nvidia's underwhelming forecast than to the Ukraine-Russia conflict.
READ MOREUBS Favors Gold Over Bitcoin as Hedge, Cites Lower Volatility
UBS Global Wealth Management's chief investment officer, Themis Themistocleous, advises that gold is a more effective hedge than Bitcoin due to its lower volatility. Despite Bitcoin's recent rally, UBS cannot recommend it to private clients, citing its extreme price fluctuations. Themistocleous suggests that traditional hedges like gold offer better portfolio protection with less risk.
READ MOREFinancial Reckoning: Bill Hwang's Archegos Fraud Comes Full Circle
Archegos Capital Management's Bill Hwang awaits sentencing for orchestrating a massive fraud scheme that resulted in billions of dollars in losses for Wall Street banks. Convicted on 10 charges, including fraud and market manipulation, Hwang faces up to 21 years in prison as recommended by prosecutors. The case highlights the risks of excessive leverage and the need for greater oversight of opaque investment vehicles.
READ MORECrypto Giant MicroStrategy Pushes Bitcoin to All-Time High
Bitcoin has surged to unprecedented levels following MicroStrategy's massive $4.6 billion purchase, pushing its total holdings beyond $30 billion. The company intends to raise $2.6 billion more for additional Bitcoin investments. The cryptocurrency hit $94,668, benefiting from post-election optimism and increased interest in Bitcoin ETF options, indicating market expectations of continued growth.
READ MORENew Treasury Shortlist Grows: Warsh and Rowan Join the Race
President-elect Trump intensifies his search for a Treasury secretary, scheduling interviews with Kevin Warsh and Marc Rowan. The expanded candidate pool, which includes Scott Bessent, aims to break the deadlock in selecting the nation's top economic policymaker. Senator Bill Hagerty, another potential cabinet contender, joined Trump for a SpaceX launch, highlighting the ongoing deliberations for key positions.
READ MOREEconomists Predict Fed Rate Cut, but Inflation Risks May Slow 2025 Reductions
Economists predict a Federal Reserve rate cut in December, followed by a slower pace of reductions in 2025 than previously expected1. This shift is attributed to potential inflationary pressures from President-elect Trump's proposed policies, including tariffs and tax cuts. Despite strong economic indicators and stubborn inflation, most economists still anticipate a 25 basis point cut next month, though market expectations have become less certain.
READ MORENew Research Highlights Silver's Strategic Role in Diversification
A new report commissioned by the Silver Institute suggests that institutional investors should allocate 4-6% of their portfolios to silver for optimal diversification and risk reduction. The study, conducted by Oxford Economics, highlights silver's low correlation with other asset classes and its potential for strong returns, especially given its growing industrial applications in green technologies.
READ MORESwiss Gold Industry Wrestles with Transparency Demands
Switzerland, a global hub for gold refining, is grappling with calls for greater transparency in its gold trade. Despite a court setback, industry groups are pushing for more rigorous due diligence and disclosure of supplier information. The move aims to address concerns about human rights violations and environmental damage in gold mining while maintaining Switzerland's competitive edge in the sector.
READ MOREHigh Yields Attract Buyers as Treasury Yields Hit Multi-Month Highs
The 30-year US Treasury yield reached its highest level since May, attracting buyers and supporting bond prices. Investors are reassessing economic expectations and Fed policy in light of Donald Trump's election victory. The high yields are providing a cushion for investors, while new corporate bond sales and uncertainty over Trump's Treasury secretary pick are influencing market dynamics.
READ MORESTATE STREET: 2024 Gold ETF Impact Study
State Street's 2024 Gold ETF Impact Study reveals a surge in gold investment, driven by economic uncertainty. Gold ETFs emerge as a preferred investment vehicle, with a majority of investors using gold for diversification and long-term gains. The study emphasizes the potential for growth in gold ETF adoption, particularly among younger investors.
READ MOREFed Chair Powell: No Rush to Factor in Trump's Economic Plans
Federal Reserve officials are taking a cautious approach to Donald Trump's potential policies, unlike in 2016 when they quickly adjusted forecasts based on expected fiscal changes. Chair Jerome Powell emphasizes waiting for concrete policy proposals before making economic projections, contrasting with the Fed's previous rapid response to Trump's election.
READ MORE