Silver Rises Over 120% YTD 
Gold prices bounced around as traders reacted to new US inflation data and uncertainty about future interest rates. Inflation for goods stayed mild in July, but core inflation rose at the fastest pace this year. Many still expect the Fed to cut rates in September, which could be good news for gold. Markets were also watching for clarity on whether US tariffs would hit gold imports. President Trump suggested there won’t be a levy, but the industry wants a formal decision. Gold is up more than 27% so far this year, supported by safe-haven buying amid global tensions.
News
Morgan Stanley Sees Gold at $4,800, Silver Lagging Behind
November’s delayed jobs report shows unemployment at 4.6%—the highest since 2021—while Morgan Stanley forecasts gold reaching $4,800/oz by late 2026. Ivory Coast miners cave to new taxes, Bitcoin posts its fourth annual loss, and silver faces headwinds from falling solar demand. Here’s what matters for investors.
December 16, 2025
