Gold and Silver Industry & Investing News

Australia’s central bank surprised markets by keeping interest rates steady at 3.85% instead of cutting them as expected. Most investors had predicted a rate cut due to slowing inflation and weak consumer spending, but the Reserve Bank of Australia said it needs more data before easing. The decision sent the Australian dollar higher and bond markets lower. While the bank still sees a rate cut in the near future, likely in August, it’s treading cautiously amid global uncertainty and recent trade tensions.

President Trump has announced sweeping new tariffs: 25% on goods from Japan and South Korea, and up to 40% on imports from a dozen other countries. Set to take effect August 1, the move has reignited fears of global trade disruptions. Trump warned that any retaliatory tariffs would be met with even higher U.S. duties. While framed as a strategy to revive domestic manufacturing, the tariffs are already shaking markets, boosting bond yields, and raising recession concerns. Negotiations remain possible, but uncertainty is high.

Gold edged lower this week, driven by a spike in U.S. 10-year Treasury yields after President Trump introduced aggressive new tariffs targeting major Asian trade partners. The move—intended to force renegotiation of trade deals—raised concerns about slowing global growth and potential retaliatory moves from China. While rising yields typically reduce gold’s appeal, the economic uncertainty introduced by tariffs could support gold in the longer term. Investors are also eyeing upcoming Fed meeting minutes for hints about future interest rate paths.

A UBS survey of nearly 40 central banks reveals significant concerns about U.S. financial stability. Almost half believe a U.S. debt restructuring is possible, while two-thirds worry about Federal Reserve independence amid criticism from President Trump and White House officials. Despite these concerns, 80% expect the dollar to remain the world’s reserve currency. Central banks are increasingly diversifying into gold, with 67% viewing it as the best investment through 2030. The survey shows growing pessimism about the global economy, with many expecting stagflation rather than a soft landing.

President Trump’s trade timeline is shifting. While tariff letters were delivered Monday with a July 9 progress deadline, countries won’t actually pay tariffs until August 1. This gap has confused financial markets. Administration officials are showing flexibility with deadlines. Treasury Secretary Scott Bessent and economic adviser Stephen Miran suggest countries negotiating in good faith could get extensions, potentially through Labor Day. Despite recent political wins, major trade deals with the EU, India, and Japan remain unfinished—only the UK and Vietnam have framework agreements so far.

Gold’s 27% price surge since late 2024 has sparked massive interest in gold-backed cryptocurrency tokens. The two dominant players, Tether’s XAUT and Paxos’ PAXG, control 85% of the $2.05 billion tokenized gold market. XAUT saw explosive 172% growth in holders, jumping from 3,104 to 8,466 wallets, while PAXG grew 38% to reach 48,763 wallets. Each token represents one troy ounce of physical gold stored in professional vaults.

Gold retreated from recent gains, falling to around $3,310 per ounce as markets digested mixed signals from ongoing trade negotiations. The precious metal’s decline reflects reduced safe-haven demand as multiple US trade partners work toward agreements, with Treasury Secretary Bessent suggesting a potential three-week extension beyond the July 9 deadline for countries still negotiating. Despite this optimism, gold found support from President Trump’s firm stance on imposing higher tariffs on non-compliant nations and his confirmation of sweeping reciprocal tariffs starting August 1. The market is also factoring in strong labor market data from last week, which has dampened hopes for...

President Trump announced a 10% additional tariff on countries that align with “Anti-American policies of BRICS” during the bloc’s summit in Brazil. Though Trump didn’t define these policies, experts believe he’s targeting BRICS’ push to reduce dependence on U.S.-led financial systems and the dollar. BRICS leaders responded by criticizing “unjustified unilateral protectionist measures” that violate WTO rules. The bloc—including Brazil, Russia, India, China, and South Africa—aims to challenge Western economic dominance. Treasury Secretary Bessent confirmed tariff letters will be sent Monday, with new rates taking effect August 1st for countries without U.S. agreements.