Incrementum Releases August 2025 Gold Compass — 50+ Charts Included

Incrementum is back with their Monthly Gold Compass for August 2025, packed with fresh insights and exclusive charts on gold, silver, mining stocks, and macro trends. Drawing from their renowned In Gold We Trust research series, this chartbook delivers over 50 visualizations and actionable data for anyone tracking the precious metals space. It’s one of the best free sources of gold market analysis available today. Get your copy and explore the trends investors are watching.

Central Banks Continue Buying Gold, Led by Uzbekistan and Poland

According to the World Gold Council, central banks added a net 22 tonnes of gold to their reserves in June, with Uzbekistan breaking a four-month selling streak by purchasing 9 tonnes. In Q2, global central bank gold buying totaled 166 tonnes, with Poland leading the way by adding 19 tonnes. However, Q2 purchases were down 33% from Q1 levels, reflecting a slight cooling of demand as gold prices have surged nearly 30% this year. Still, ING analysts expect continued buying ahead, driven by geopolitical uncertainty and the desire to reduce reliance on the U.S. dollar.

Gold Rally Hits Longest Streak Since February

Gold held its longest winning streak since February, climbing over 3% in just four sessions amid mounting concerns about the U.S. economy. Weak data on the services sector, labor market, and consumer spending are reinforcing fears of a slowdown, largely blamed on ongoing tariffs. This has fueled speculation that the Federal Reserve will cut interest rates at its September meeting—an outcome traders now see as a 90% probability. Lower rates tend to favor gold, which offers no yield but preserves purchasing power. Gold is up nearly 30% so far this year, as investors seek shelter from trade conflicts, geopolitical tensions, […]

Record Gold Pours Into Shanghai as Traders Exploit Futures Gap

Gold inflows into Shanghai Futures Exchange warehouses have hit a record high, driven by traders exploiting the gap between high-priced futures and cheaper spot gold. With futures trading at a premium amid strong speculative demand, banks and traders are delivering physical gold to the exchange to profit from arbitrage. World Gold Council strategist John Reade said the trend reflects “how strong gold trading demand is in China right now.” Despite a sharp drop in jewelry sales last quarter, demand for bars, coins, and futures remains solid. Over 36 tons of gold have been registered for delivery—nearly double last month’s total—underscoring […]

Gold Fields to Industry: Majors Must Step Up in Gold Exploration

At the Diggers and Dealers conference in Australia, Gold Fields’ VP of greenfields exploration, Matthew Crawford, urged major gold companies to take greater responsibility in early-stage discovery, traditionally led by junior miners. He emphasized that the gold sector isn’t discovering enough new ounces and that seniors must “”lean in”” with capital, technical support, and long-term commitment. Gold Fields itself is expanding exploration across Australia, Chile, Peru, and now Canada. The company recently launched its first drilling program in Queensland since 2013 and is pursuing full ownership of the Gruyere mine through a $3.7 billion acquisition of Gold Road Resources. Other […]

Fed Chair Shortlist Shrinks as Trump Considers Bold Moves

President Trump is expected to name a replacement for Fed Governor Adriana Kugler this week—an appointment that could also signal his choice for the next Fed Chair. The shortlist reportedly includes economic adviser Kevin Hassett, former Governor Kevin Warsh, and possibly current Governor Christopher Waller. Kugler’s early departure follows Trump’s firing of the Bureau of Labor Statistics chief, sparking global concern over the integrity of U.S. economic data. With inflation rising and job growth slowing, Trump’s upcoming picks could reshape how markets view the Fed’s independence—and its ability to manage the economy.

Treasury Yields Rise Ahead of Massive Bond Auction

The 10-year Treasury yield climbed to 4.222% on Tuesday, ahead of $67 billion in upcoming bond auctions. A concerning ISM services report showed prices rising faster than expected, while employment and imports declined—hinting at early signs of stagflation. Analysts at Deutsche Bank flagged the data as troubling and noted that tariffs may be distorting the economy. With no major economic releases scheduled Wednesday, traders are turning their attention to upcoming speeches from key Fed officials.

Trump Hits India With New 25% Tariff Over Russian Oil Purchases

President Trump signed an executive order imposing a 25% tariff on India for buying Russian oil, bringing total U.S. tariffs on Indian imports to 50%. The move, set to take effect in 21 days, is part of Trump’s broader strategy to penalize countries he accuses of indirectly funding Russia’s war in Ukraine. “They’re fueling the war machine,” Trump told CNBC. The announcement adds to a flurry of recent trade actions. Trump has already raised tariffs on Canada to 35% and set rates between 10% and 40% on dozens of other trading partners. He also plans to introduce steep new duties—potentially […]

Markets on Hold as Trump Eyes Fed Shake-Up

The dollar stayed within a narrow range this week as traders braced for significant developments at the Federal Reserve. President Trump is expected to nominate a replacement for outgoing Fed Governor Adriana Kugler and has narrowed his list for the next Fed Chair to four candidates. Economic data showed unexpected stagnation in the U.S. services sector and rising costs, likely due to ongoing tariffs. Investors are uneasy about potential political influence at the Fed and await clarity. Meanwhile, Treasury yields climbed ahead of more government debt issuance, and markets continue to price in a near-certain rate cut this September.

Gold slips 0.5 % as Investors Await Fed Appointment

Gold prices slid about 0.5 % on Wednesday as yields on 10‑year U.S. Treasuries rebounded after four days of declines, making the non‑yielding metal less attractive. Spot gold dropped to about $3,362.54 per ounce while U.S. gold futures fell to $3,417.30. Investors are waiting to see who President Donald Trump will nominate to fill a vacant seat on the Federal Reserve’s Board, with a decision expected this week Markets also price in an 87 % probability of a rate cut in September after a weak U.S. jobs report and the firing of the Bureau of Labor Statistics commissioner. Trade tensions remain elevated […]