Gold and Silver Industry & Investing News

Billionaire entrepreneur Mark Cuban has sparked controversy with his prediction of an imminent “Red Rural Recession” if the Trump administration continues its current course of action. In a post on Bluesky that gained significant attention, Cuban warned that federal budget cuts, widespread firings, cancellation of grants and contracts with companies, and office closures will have outsized negative impacts on small towns and rural areas across America. According to Cuban, these actions will disproportionately affect smaller communities, potentially turning their financial situations “upside down” and leading to serious economic consequences in rural America.

Gold and silver prices have surged to new cyclical highs, with gold breaking past its March 20 record of $3,057.50 and silver climbing above $34.24, approaching its October high of $34.87. This rally is primarily driven by concerns about the upcoming “Liberation Day” tariffs scheduled for April 3, which markets appear to be underpricing according to Citi analysts. The potential for higher-than-expected reciprocal tariffs is creating bullish conditions for precious metals. While current silver price differentials between U.S. and U.K. markets imply tariffs of 3-6%, Citi is “very bullish” on silver’s prospects if actual tariffs reach 15-30%. This expectation of...

Gold has hit a record high of $3,086.21 an ounce as investors seek safety amid trade tensions following President Trump’s upcoming April 2 reciprocal tariffs. These measures have sparked concerns about inflation, slower economic growth, and trade conflicts. Heading for its fourth consecutive weekly gain, gold’s rise is fueled by safe-haven demand, central bank buying in Asia, and growing institutional investment in gold-backed ETFs. Ole Hansen of Saxo Bank notes gold’s enduring value as a wealth preserver during market turbulence. Investors are watching upcoming U.S. inflation data for Federal Reserve policy clues, with analyst Alexander Zumpfe projecting gold could reach...

Gold has surged to an unprecedented record of over $3,079 an ounce, marking its fourth consecutive weekly gain amid escalating trade tensions. The precious metal rose 0.7% on Friday after President Trump signed a proclamation imposing 25% tariffs on all auto imports and threatened harsher measures against the EU and Canada if they retaliate. Markets are also bracing for additional “reciprocal tariffs” coming on April 2, though specific details remain unclear. This flight to safety has pushed gold up approximately 16% this year, achieving at least 15 record highs despite traders reducing expectations for Federal Reserve rate cuts. Major financial...

The US economy grew 2.4% in Q4 2023, better than initially reported. Corporate profits jumped 5.9% – the biggest increase in over two years – with profit margins reaching 15.9%, well above pre-pandemic levels. This could help companies absorb future tariff costs without raising consumer prices. While consumer spending growth was revised down to 4%, improvements in exports, government spending, and business investment boosted overall growth. Despite this strong performance, major financial institutions predict slower growth in 2025 due to concerns about President Trump’s trade policies.

Silver prices (XAG/USD) have risen to nearly $34 during European trading as President Trump’s announcement of permanent 25% tariffs on imported vehicles sparked global economic concerns, enhancing silver’s status as a safe-haven asset. These tariffs, effective April 2, will significantly impact top auto exporters to the US including Mexico, Canada, Japan, South Korea, and Germany. The measures have also weakened the US Dollar as domestic economic consequences are anticipated – US automakers may need to relocate manufacturing domestically, potentially increasing car prices due to higher labor costs and reducing household purchasing power. Investors are now focused on Friday’s Personal Consumption...

The European Union is ramping up efforts to secure critical minerals with 47 strategic projects across 13 member states. EU Commissioner Stéphane Séjourné recently visited a Greek aluminum plant that will soon extract gallium, a key metal used in semiconductors and other high-tech applications. This $24.2 billion investment initiative aims to reduce Europe’s dependence on China and other countries for essential materials used in electric vehicles, electronics, and defense systems, addressing vulnerabilities exposed by recent global events including the pandemic and trade disputes.

Goldman Sachs has raised its gold price forecast for the end of 2025 from $3,100 to $3,300 per ounce. This positive outlook is based on two main factors: – First, more investors are buying gold through ETFs, a trend expected to continue as the Federal Reserve is predicted to cut interest rates this year and in 2026. – Second, central banks, especially in China and other Asian countries, are steadily purchasing gold to increase their reserves. Gold is currently trading at $3,060.70, having risen 36% over the past year. While a Russia-Ukraine peace deal might cause temporary selling pressure, Goldman...

U.S. jobless claims fell slightly to 224,000 last week, just below forecasts. Despite slower hiring, low layoffs continue to support labor market stability. President Trump’s trade policies and federal government downsizing plans are creating economic uncertainty. While federal worker claims haven’t significantly increased, the D.C. metro area is seeing more claims, likely from affected contractors. Elon Musk’s Department of Government Efficiency has fired thousands of federal workers, though courts have ordered many reinstated. Continuing claims decreased to 1.856 million, and economists expect the March unemployment rate to remain at 4.1%.

The Federal Reserve has increasingly adopted the word “uncertainty” in its communications, with Chair Powell using it 22 times after the latest rate decision and other officials following suit. This uncertainty stems largely from Trump’s planned tariffs, affecting the Fed’s inflation and growth projections while maintaining expectations for two rate cuts this year. The business sector is echoing these concerns, with companies like FedEx and Delta citing uncertainty when lowering forecasts, while consumer confidence has dropped to a four-year low amid policy apprehensions.