Silver Hits $42/oz — 45% YTD Gains —
Gold held in London vaults increased by 0.6% to 8,536 metric tons in April as bullion flowed back from New York after the Trump administration excluded gold from import tariffs, normalizing the premium of COMEX futures over London spot prices. From December to March, market participants had moved significant gold to the U.S. to cover COMEX positions against potential tariffs, reducing London market liquidity and prompting bullion market players to borrow from central banks. COMEX gold stocks have been declining since early April, with a significant drop of 28.8 tons (worth $3.1 billion) on Wednesday alone. Silver holdings in London vaults also increased by 3.3% to 22,859 tons, marking the first rise since October 2024.
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How UBS’s $3,800 Gold Forecast Impacts Precious Metals Markets
UBS, the Swiss banking giant, recently made waves in the precious metals markets by raising its gold price forecast to $3,800 per ounce by late 2025. If this prediction materializes, that would be a significant 45% increase in 2025. Pretty incredible performance, but how does that stack up against other major years for precious metals? Understanding UBS’s Bullish Gold Prediction The investment bank’s dramatic upward revision from its previous target reflects a confluence of factors that could drive gold to historic highs. UBS analysts point to several key catalysts, including anticipated Federal Reserve rate cuts, persistent geopolitical tensions, and a
September 17, 2025
