Gold and Silver Industry & Investing News

On Thursday, Azoria Capital—led by Trump ally James Fishback—filed suit in Washington, D.C., claiming the Federal Open Market Committee’s secret sessions breach a 1976 statute requiring public access. The complaint asks the court to compel the Fed to open its next policy meeting to the public. Azoria argues that real-time insight is essential for market participants to guard against abrupt rate changes and contends that the Fed’s reluctance to cut rates is driven by political bias against President Trump. This legal challenge comes as Trump himself visits the Fed today and continues to pressure Chair Powell over high interest rates.

Nearly half of the world’s central banks plan to boost their gold reserves over the next three years, driven by the economic and political uncertainty stoked by President Trump’s tariff-driven trade policies. Invesco’s research finds that 50% of monetary authorities view gold as a vital “reserve of resilience,” prized for its safe-haven status and political neutrality. A parallel World Gold Council survey shows 43% of central banks expect to increase holdings in the coming year, up from 29% a year ago.

In H1 2025, China imported and mined a combined 505.205 tonnes of gold for use in jewelry, investment, and industry—a drop of 3.54% from the 524 tonnes recorded in the first six months of 2024. The China Gold Association noted that slower consumer spending, tempered investor appetite, and muted industrial demand all contributed to the decline. Meanwhile, output from Chinese mines edged down by just 0.31% to 179.083 tonnes, reflecting steady but slightly reduced domestic production.

After jobless claims for the week ending July 19 came in at 217,000—4,000 fewer than the prior week and below the 227,000 forecast—Treasury yields ticked higher across the curve. The benchmark 10-year yield rose to 4.434%, the 2-year to 3.923%, and the 30-year to 4.978%. Investors are weighing these signs of labor-market strength alongside President Trump’s July 24 visit to the Fed—an event not seen in nearly two decades—and renewed optimism about an impending U.S.–EU trade deal following the recent framework with Japan.

After a brief pullback, Brent crude climbed back near $69 a barrel as reports of a looming 15% U.S.–EU tariff accord lifted sentiment. Investors are also eyeing U.S. Energy Information Administration data showing a 3.2 million‐barrel drop in nationwide crude oil stocks, even though Cushing inventories rose for a third week. Diesel inventories, while up slightly, remain exceptionally tight—their lowest for this time of year since 1996—underscoring ongoing demand pressure.

Traders now see almost no chance (under 30%) of an ECB rate cut at its September 11 meeting, up from about 50% before news of a looming 15% EU–U.S. tariff deal. After eight cuts over the past year, the ECB held rates steady this week, and President Christine Lagarde’s upbeat tone—emphasizing that policy is in a “good place” and warning that trade-related bottlenecks could stoke inflation—pushed two-year German yields up over 10 basis points to 1.90%.

Central banks around the world are easing off on rate cuts as many near the end of their monetary-stimulus cycles. Persistently high inflation and rising trade-war tariffs have made policymakers cautious, while political pressures—especially President Trump’s repeated public remarks about possibly firing Fed Chair Jerome Powell—add another layer of uncertainty.

In a landmark decision for the region, Serbia’s National Bank plans to store all of its gold reserves domestically, eschewing established bullion centers in Switzerland, the U.K., and the U.S. Since 2019, Serbia purchased 17 tonnes on international markets and acquired another 19 tonnes from Zijin Mining’s local unit, bringing its total to 50.5 tonnes—valued at about $6 billion. Repatriation began in 2021 as geopolitical risks rose, especially after Russia’s reserves were frozen in 2022, exposing the political dangers of holding assets abroad. While domestic storage bolsters security during crises, the bank acknowledges that keeping metal in global hubs offers...

Gold fell for a second day as improving trade prospects between the U.S., Japan, and potentially the EU lifted risk appetite and reduced demand for safe-haven assets. Spot gold dipped 0.7% to $3,362.48/oz, while U.S. futures slid 0.9%. Investors are also eyeing Trump’s Fed visit and the July 29–30 policy meeting, where rates are expected to remain unchanged, with cuts penciled in for September.

“On Tuesday, the September copper contract on the CME surged to an all-time high of $5.732 per pound, extending its rally since President Trump’s mid-July tariff announcement. That move vaulted copper above $5/lb. and lifted its gains to more than 40% for 2025—making it the top-performing major commodity this year, even ahead of gold. As the August 1 deadline for a 50% U.S. import levy draws near, traders have pulled back on inbound shipments and are tapping domestic inventories. ANZ Bank analysts told Reuters that this shift may temporarily sustain prices but could create downward pressure once U.S. stockpiles dwindle....