Gold and Silver Industry & Investing News

Gold market experts Frank Giustra and Grant Williams delivered important warnings about the future of gold during their presentation at VRIC. They highlighted a significant divide in how different parts of the world approach gold investment. Eastern investors tend to view gold as a way to preserve wealth over the long term, while Western investors are more attracted to quick gains from technology stocks and cryptocurrencies. The experts warned of an approaching crisis with the U.S. dollar and emphasized that gold will be crucial for protecting investment portfolios. However, they also pointed out serious troubles brewing in the gold mining...

The Trump administration plans to announce a new trade policy this week that will match other countries’ tariffs on U.S. goods with equal tariffs on their exports to America. This will be done through an executive order. This new tariff policy is a revival of an earlier attempt from Trump’s first term that didn’t succeed when tried through Congress. Peter Navarro, who serves as Trump’s senior advisor on trade and manufacturing, is leading this initiative. Navarro has long supported this approach to trade, including when he backed similar legislation proposed by Sean Duffy, who is now Trump’s Transportation Secretary.

Russian banks’ gold reserves plunged 46.4% in 2024, hitting their lowest level since July 2022 at 38.1 metric tons ($3.4 billion). This dichotomy reflects the country’s complex economic challenges: high inflation at 9.5%, record interest rates at 21%, and ongoing sanctions impact. Russian citizens, faced with a weakening ruble and limited international investment options due to sanctions, increased their gold purchases by 75.6 metric tons – up 62% from pre-war levels. Meanwhile, Russia’s position as the world’s second-largest gold producer remains strong, with production expected to grow through 2027, despite the significant drawdown in institutional reserves to their lowest level...

A buying frenzy has emptied gold inventories across China’s banking sector as the precious metal hits consecutive record highs, reaching $2,942.71 per ounce. The Industrial and Commercial Bank of China reports nearly all sizes of their Ruyi Gold bars are out of stock, with only 10-gram bars showing limited availability. Similar shortages are seen at other major institutions, including Agricultural Bank of China and China Construction Bank, while Bank of China has moved to a preorder system. Local gold stores are also affected, with one Shanghai retailer selling out of 100-gram bars before the Chinese New Year.

As gold experiences a remarkable rally with over 40% gains in the past 12 months, outpacing the S&P 500’s performance by double, a controversial proposal has emerged regarding America’s gold reserves. The suggestion to adjust the bookkeeping valuation of these reserves could theoretically add $750 billion to the U.S. Treasury overnight. However, at least one expert is sounding the alarm, warning that attempting to capitalize on this potential windfall could trigger an “Armageddon” event in the markets. The strong performance of gold reflects growing investor concerns about fiat currency stability and potential economic instability.

Hungary’s inflation rate jumped unexpectedly to 5.5% in January, reaching its highest level in 13 months and challenging Prime Minister Orban’s earlier claims of victory over price increases. The surge, particularly evident in food prices and services, has forced the central bank to maintain the EU’s highest interest rate at 6.5% and postpone its inflation target timeline. This development threatens Orban’s political standing ahead of next year’s elections as Hungarians grapple with rising living costs.

President Trump’s implementation of 25% tariffs on steel and aluminum imports has driven gold as high as $2,942.70 per ounce amid trade war concerns. While considering an exemption for Australia, Trump specifically cited Chinese steel exports as indirectly flooding the U.S. market through third countries. The decision has drawn mixed reactions, with U.S. aluminum producers praising the move while downstream manufacturers warn of higher consumer prices and supply shortages.

Gold prices surged to a historic high of $2,941 per ounce during Asian trading on Tuesday before quickly retreating $30 to $2,910. The volatile movement came in response to President Trump’s announcement of 25% tariffs on steel and aluminum imports, with traders concerned about potential future tariffs on gold. The day’s volatile trading pattern underscores both the strong bullish sentiment driving gold to new heights and the market’s sensitivity to rapid price increases.

Russian communications regulator Roskomnadzor has blocked cryptocurrency exchange platform BestChange for unspecified “financial sphere” violations. The platform is working with Russia’s central bank to understand and resolve the situation. While Russia bans crypto circulation and advertising, it allows cryptocurrency mining and international payments, having recently legalized these activities to potentially generate significant tax revenue and circumvent Western sanctions.