Silver Rises Over 120% YTD 
Daily News Nuggets | Today’s top stories for gold and silver investors
December 16th, 2025
Jobs Added, But Trouble Brewing
The November jobs report finally arrived — 11 days late, courtesy of the government shutdown. It’s sending mixed signals.
The economy added 64,000 jobs last month, edging past the 50,000 economists expected. However, unemployment climbed to 4.6%, the highest level since September 2021. October’s data showed a loss of 105,000 positions.
The numbers are noisy. Federal worker departures from Elon Musk’s DOGE buyout program distorted the data. RSM’s chief economist warns investors to “assume there’s a pretty big margin of error” and expect revisions in January.
Markets barely reacted. Still, the Fed just received another signal that its rate-cutting campaign may need to continue into 2026.
The Labor Market’s 2026 Question: Thaw or Crack?
America’s job market has spent 2025 in what economists call a “no-hire, no-fire” freeze. Now, the big question for 2026 looms: will it thaw, or will it crack?
According to the Indeed Hiring Lab, the latter is the real risk. Healthcare alone accounted for nearly half of all job growth this year. Any pullback in that sector could pressure the entire market.
Fed Chair Jerome Powell acknowledged the labor market is “under pressure.” He noted job creation “may actually be negative.” Some economists see this as a textbook soft landing. Others worry we’re entering 2026 weaker than we started 2025.
The consensus? Expect more of the same slow, selective hiring. If you lose your job, finding a new one will be much harder than it was a year ago.
Ivory Coast Gold Miners Cave to Tax Hike
Gold miners in Ivory Coast have started paying a controversial new 8% royalty on revenue — backdated to January 2025. But they only surrendered after months of resistance.
The West African nation, better known as the world’s top cocoa producer, scrapped its old 3-6% sliding scale. It imposed the flat rate as part of efforts to diversify its economy.
Mining companies initially refused. They argued their contracts shielded them from fiscal changes. Yet with the government standing firm and gold prices up roughly 65% this year, miners decided settling was better than facing penalties.
The move reflects a broader trend across resource-rich West Africa. Countries are squeezing more revenue from miners as commodity prices surge. For gold investors, it’s a classic reminder: higher prices invite higher taxes. Resource nationalism never sleeps.
The Bitcoin Slump Nobody’s Talking About
Bitcoin is on track for its fourth annual loss ever. This time, there’s no Mt. Gox, no FTX collapse, no Terra blowup to blame.
The original cryptocurrency is down about 7% for the year after Monday’s 5.2% selloff. It’s now trading around 30% below its October record high of $126,000.
What’s striking is the fatigue setting in. Trading volumes have slumped. The token has been range-bound between $80,000 and $100,000 for months. Unlike past drawdowns tied to industry scandals, this downturn feels more like investor exhaustion than panic.
For those who’ve watched Bitcoin swing wildly for over a decade, that might be the most interesting part. Sometimes the biggest story is when there isn’t one.
Morgan Stanley: Gold’s Rally Slows, But Keeps Climbing
Wall Street’s bullish on gold — just don’t expect a repeat of 2025’s blistering pace. Morgan Stanley forecasts gold hitting $4,800 per ounce by Q4 2026. That’s solid, but slower than this year’s nearly 50% surge.
The bank expects central banks and ETFs to dial back their buying sprees. Even so, Fed rate cuts and a weaker dollar should keep momentum alive. Chinese retail demand, persistent central bank accumulation, and global growth worries remain tailwinds.
The forecast for silver? Less encouraging. Morgan Stanley sees 2025 as the peak for the metal’s supply deficit. Falling solar panel installations in 2026 will likely dampen industrial demand.
Translation: silver may lag gold’s performance next year. For precious metals investors, it’s a reminder that even in a bull market, the ride won’t always be smooth — or equal across assets.
