Silver to $39.50: Up 9.4% Past 30 Days
Brandon Sauerwein, Editor
Silver traders are buzzing. Gold markets are in chaos. And behind the noise, a few critical shifts could change everything for precious metals investors.
This week, Alan Hibbard and Mike Maloney unpack the truth about a rumored silver squeeze — and reveal why a sudden U.S. gold tariff is still rattling the market even after a reversal.
Silver Squeeze Incoming? Here’s the Truth
Is the silver market on the verge of a major squeeze?
In his latest video, Alan Hibbard fact-checks a viral thread claiming COMEX deliveries have exploded, LBMA reserves are at historic lows, lease rates have spiked above 6%, and premiums are soaring.
Alan breaks down what’s real, what’s hype, and why the setup for silver right now could be the best in decades.
U.S. Gold Tariff Chaos — Even After Reversal
The U.S. shocked markets by imposing a massive 39% tariff on Swiss-refined 1 kg and 100-oz gold bars — and now the White House says it may reverse the decision. But the chaos in the gold market has already been set in motion.
In the latest GoldSilver Show, Mike Maloney and Alan Hibbard break down:
- Why COMEX futures spiked to record highs above $3,500/oz
- How Switzerland’s role as the world’s top refining hub was thrown into turmoil
- Why a policy “clarification” can’t undo the trust damage
Alan’s take: “You can’t revalue gold — all you can do is devalue your own currency.”
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Market Pulse: This Week in the News
📊 Metals Price Update
- Gold prices are up to $3,366/oz — up 28.2% year to date
- Silver is at $38.65/oz — up 33.6% year to date
🤝 Trump Calms Gold Market with No-Tariff Assurance
Gold futures and spot prices moved closer together after President Trump reassured markets that imported bullion will not face U.S. tariffs. Last week’s surprise U.S. Customs ruling sent COMEX futures more than $100 above London spot prices. Trump’s post — “Gold will not be Tariffed!” — narrowed the gap to about $50, easing trader concerns. While industry leaders welcomed the statement, they note only a formal policy will remove all uncertainty.
🇨🇭 Swiss Industry Pushes for Binding U.S. Commitment
Switzerland’s precious metals association (ASFCMP) is urging the White House to formally guarantee that gold imports will remain tariff-free. They warn that without a binding decision, global gold trade could face renewed volatility despite Trump’s verbal assurance.
📈 Gold Climbs as Fed Rate Cut Bets Climb Past 96%
Gold prices gained after U.S. inflation data matched forecasts, reinforcing expectations of a Federal Reserve rate cut next month. The metal, up nearly 28% this year, continues to benefit from strong central bank buying, geopolitical tensions, and a weaker U.S. dollar. Ongoing uncertainty over potential bullion tariffs remains, though Trump has indicated no levies are planned. Spot gold traded near $3,360 in London.
🔥 Inflation’s Hot Streak Persists
Core inflation rose 0.3% in July and 3.1% year over year, the fastest annual pace since the beginning of the year. This data comes before most of Trump’s August tariffs take effect — suggesting price pressures may intensify in the months ahead.
🚀 Analyst: Gold Could Soar to $4,000 by October
Peter McGuire, CEO of Trading.com, forecasts gold climbing to $3,600–$4,000 and silver surpassing $40 by mid-October. He cites a weakening U.S. dollar, expected Fed rate cuts, and strong investor demand. McGuire also predicts a Q4 drop in crude oil prices due to easing geopolitical tensions, abundant supply, and slowing inflation — potentially lowering energy costs and providing relief to consumers and businesses.
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