Gold and Silver Industry & Investing News

Gold prices remain close to record highs, driven by the weakening U.S. dollar. Even with rising stock markets, gold continues to hold strong near $3,400, supported by persistent dollar softness. Analysts suggest this trend could continue, especially as the dollar faces potential pressures from upcoming economic and policy events.

Markets have become less sensitive to tariff announcements than they were earlier this year. Despite ongoing tariff threats from President Trump, stocks—including those most exposed to tariffs—are showing smaller reactions and continue to reach record highs. Goldman Sachs strategist David Kostin notes that investors expect tariffs to settle at lower levels than initially announced, and key economic data has shown less impact from tariffs than feared. Optimism remains strong for the S&P 500, with projections of further gains driven by expectations of solid earnings growth in 2026.

According to the Congressional Budget Office, President Trump’s new tax and spending law will increase federal deficits by $3.4 trillion over the next decade. The law, signed on July 4, extends tax breaks, adds deductions for tips and auto loans, and cuts funding for Medicaid and food assistance. While Republicans argue the law prevents a tax hike and fuels growth, the CBO says growth won’t be enough to offset the debt burden—leaving over 10 million more people uninsured by 2034.

Scott Bessent says the Federal Reserve should undergo a full review of its non-core functions to prevent “mission creep” from weakening its monetary policy independence. He also questioned the Fed’s choice to begin a large renovation project during a time of financial losses, adding to concerns about accountability and transparency.

Gold prices dipped slightly after briefly hitting a one-month high, as markets focused on trade talks ahead of President Trump’s looming August 1 tariff deadline. The dollar held steady, limiting gold’s appeal, while investors also assessed mixed signals from the Federal Reserve on future rate cuts. Despite recent softness, gold remains up more than 25% this year amid ongoing geopolitical tensions and global economic uncertainty.

Gold surged 26% in the first half of 2025, setting 26 all-time highs and becoming one of the year’s top-performing assets, according to the World Gold Council. While momentum may slow in H2, ongoing geopolitical risks, inflation, or economic downturns could push prices even higher. Gold remains a resilient hedge as global uncertainty continues.

China dramatically increased its rare earth magnet exports in June—up 158% overall and more than 7x to the U.S.—following a trade truce aimed at easing global tensions. While this surge brings some relief after months of export controls, shipments are still well below historic averages. China produces 90% of the world’s rare earth magnets, vital for everything from EVs to fighter jets. The recent squeeze pushed the U.S. and EU to scramble for alternative sources, including new investments in domestic production. Meanwhile, tensions persist with India and Europe, as licensing backlogs and political concerns remain unresolved.

Silver is trading near historic lows compared to gold, with over 100 ounces of silver now needed to buy one ounce of gold—far above the 25:1 ratio seen in 2011. One reason for this underperformance is the decline in silver’s use in photography, which once consumed 25% of global supply. Today, that figure is just 3%. However, silver’s future is bright: demand from solar panel production now accounts for 16% of global silver use, and its role in battery and clean energy technologies is growing. From a historical perspective, silver appears undervalued relative to gold—making now a potentially attractive entry...

China’s exports of two key minerals—antimony and germanium—have plummeted in recent months amid tighter export controls and a government crackdown on smuggling. June shipments dropped over 88% compared to January. While rare earth exports have rebounded thanks to a U.S.-China deal, supplies of antimony and germanium—used in electronics, solar cells, and military tech—remain near record lows, pushing prices sharply higher.