Gold and Silver Industry & Investing News

US private-sector employment unexpectedly declined by 33,000 jobs in June, marking the first decrease in over two years according to ADP data. The drop was driven by service sector losses of 66,000 jobs, particularly in professional services, healthcare, and education. While manufacturing and construction added jobs, small and medium businesses reduced their workforce. Companies are becoming more cautious about hiring due to trade policy concerns and are working to align staffing with slower economic activity.

The euro zone achieved its inflation target in June, with consumer prices rising 2% year-over-year according to Eurostat’s flash data. This marks a slight increase from May’s 1.9% reading and aligns perfectly with the European Central Bank’s goal. Core inflation remained steady at 2.3%, but services inflation edged up to 3.3%, signaling potential underlying price pressures. ECB Chief Economist Philip Lane indicated that the major inflation-fighting cycle is complete, though the bank will remain vigilant. Markets responded positively, with the euro gaining against the dollar. Despite external risks like oil price volatility and potential U.S. tariffs, economists expect the ECB...

The Senate just passed President Trump’s major tax and spending package, which extends the 2017 tax cuts and adds new tax breaks for workers earning tips and overtime pay. The bill raises the state and local tax deduction limit to $40,000 for five years and includes significant cuts to Medicaid that would affect nearly 12 million Americans. It also ends tax credits for electric vehicles and clean energy projects earlier than planned, while providing $50 billion for rural hospitals and major funding for defense and immigration enforcement.

Gold held steady near $3,330 an ounce following a 2% gain over the previous two sessions, as markets digested the Senate’s approval of President Trump’s tax legislation that could expand the deficit by $3.3 trillion over the next decade. This fiscal expansion may enhance gold’s appeal as a safe-haven asset. Investors are now focusing on Thursday’s June employment report, which is expected to show slower job growth and higher unemployment – data that could strengthen the case for Federal Reserve rate cuts. Lower interest rates typically benefit gold since it doesn’t yield income. Despite Tuesday’s stronger-than-expected job openings data reducing...

Artisanal and Small-Scale Gold Mining (ASGM) produces 20% of global gold and employs 20 million people across Africa, Asia, and Latin America. Yet 85% operates outside the law, leaving it open to criminal exploitation. The World Gold Council reports that criminal networks use informal gold mining to fund illegal activities, while communities suffer from mercury pollution and human rights abuses. Governments lose tax revenue and face security threats. The solution: mercury-free processing plants that boost miners’ incomes, increase transparency, and help formalize the sector. Case studies from Peru and Tanzania show these facilities work. For success, governments must create smart...

Investment bank Citi has revised its gold price outlook, expecting the precious metal to consolidate in the $3,100-$3,500 range during the third quarter of 2025. This represents a moderation from the April peak of $3,500 per ounce, with prices already dropping over $100 since Citi lowered its near-term target from $3,500 to $3,300 in mid-June. The bank cites easing geopolitical tensions in the Middle East and an improving global economic outlook as key factors behind the price moderation. More significantly, Citi predicts a longer-term bearish trend, forecasting gold to retreat to $2,500-$2,700 by the second half of 2026 as the...

Oil prices remained stable on Tuesday as markets balanced two key factors: the expected OPEC+ production increase in August and ongoing U.S. trade negotiations. Brent crude edged up to $66.79 per barrel while WTI rose slightly to $65.15. OPEC+ is anticipated to announce a 411,000 barrel-per-day output boost at their July 6 meeting, continuing their pattern of supply increases. Meanwhile, investors are closely monitoring U.S. tariff negotiations ahead of President Trump’s July 9 deadline, which could see rates jump significantly. Looking ahead, Morgan Stanley predicts oil prices could fall to around $60 by early 2025 due to oversupply concerns.

HSBC analysts have raised their gold price targets but warn that the metal’s impressive rally may be losing steam. While they expect gold to reach $3,215 per ounce in 2025 (up from their previous $3,015 forecast), they believe most of the gains are already behind us. High prices have boosted supply while dampening demand for physical gold like jewelry and coins, which could limit further price increases. However, ongoing geopolitical tensions and potential trade conflicts may prevent a significant pullback, keeping gold prices at historically elevated levels.

The Senate’s version of the “One Big, Beautiful Bill Act” prioritizes tax relief and populist policies over deficit reduction, widening the budget gap by $3.3 trillion over ten years through $4.5 trillion in tax cuts and only $1.2 trillion in spending reductions. Key compromises include maintaining a $40,000 cap on state and local tax deductions while preserving workarounds. Fiscal watchdog groups like the Committee for a Responsible Federal Budget strongly criticize the legislation, warning that it adds nearly $4 trillion to the deficit (including $690 billion in extra borrowing costs) and creates dangerous precedents for future deficit spending. Republicans defend...