Gold and Silver Industry & Investing News
Today’s gold and silver market news, curated from the best of GoldSilver's team and around the web. Everything precious metals investors need to know including updates on big price swings, macro analysis, and breaking stories. Check back often or subscribe to get the highlights in your inbox. Monitor live spot prices on our charts page.
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TOP NEWS$83 billion Gold Deposit Found
A massive discovery of 330 tons of gold in China's Hunan province could now reshape the metals market...
"I Have Great Hope For the SECOND Half of this Administration" - Mike Maloney
Mike Maloney shares his optimism for the second half of this administration, thanks to the creation of the Department of Government Efficiency (DOGE).
READ MOREBuffett's Philanthropic Future: 99.5% of Fortune to Charity
Warren Buffett, the iconic investor and chairman of Berkshire Hathaway, has announced plans to donate 99.5% of his $149.7 billion fortune to charity upon his death. This wealth will be managed by a trust overseen by his children, Susie, Howard, and Peter Buffett, with designated successors if needed. Buffett has already donated over $58 billion since 2006, including another $1.14 billion in Berkshire stock to family foundations. His children will have a decade after his passing to distribute the remaining wealth for philanthropic purposes, continuing Buffett's legacy of generosity.
READ MOREMarkets Rally as Bessent Offers a Softer Approach to Trump's Policies
The appointment of Scott Bessent as Treasury Secretary is being welcomed by investors who anticipate he will moderate some of Trump's more extreme economic measures. This sentiment has fueled gains in US Treasuries and stocks, while the dollar has weakened. Bessent is expected to favor a cautious implementation of trade restrictions and focus on fiscal responsibility, which has provided a sense of relief to the financial markets.
READ MORETrump Trade Fuels Inflation Concerns for Federal Reserve
The post-election rally in stock markets, driven by expectations of pro-business policies under President-elect Donald Trump, is likely to elevate the Federal Reserve's favored inflation measure. This increase in stock prices affects the PCE price index by raising costs in portfolio management services, a critical component influencing Fed policy. As a result, the Fed may need to maintain a hawkish stance on interest rates unless there is a significant market correction.
READ MOREU.S. and Europe Brace for Divergent Economic Paths
The United States and Europe are set to diverge significantly in their monetary policies next year. The Federal Reserve plans to reduce interest rates less aggressively than the European Central Bank (ECB) due to higher growth and inflation projections in the U.S. Meanwhile, the ECB is expected to respond more forcefully to Europe's sluggish growth and low inflation. Donald Trump's proposed tax cuts and tariffs are anticipated to keep U.S. inflation above 2%, while Eurozone inflation may fall below the ECB's target. This divergence highlights concerns about the Eurozone's economic vulnerability, especially in light of potential trade tensions with the U.S.
READ MOREGold Dips 1% Amid Profit-Taking and New Treasury Secretary Appointment
The price of gold fell 1% on Monday as investors took profits after a five-session rally, reaching a three-week high. The decline was further influenced by the appointment of Scott Bessent as the new U.S. Treasury Secretary, which eased market concerns about trade wars, reducing the demand for gold as a safe-haven asset. Additionally, market participants are closely watching the upcoming Federal Reserve's November FOMC meeting minutes, GDP data, and core PCE figures, with a 56% chance of a 25 basis point rate cut expected in December.
READ MOREGold Prices Fall on Treasury Appointment and Interest Rate Concerns
Gold prices fell as traders reacted to Donald Trump's nomination of Scott Bessent as Treasury Secretary and anticipated the Federal Reserve's upcoming interest rate decision. Despite a weaker US dollar, which typically supports gold, bullion dropped nearly 2% after a significant rally last week driven by geopolitical tensions. The market views Bessent's nomination as a stabilizing factor for the economy, potentially reducing gold's appeal as an inflation hedge. Analysts suggest that profit-taking and Bessent's perceived moderate stance on trade may have contributed to the decline.
READ MOREGoldman Sachs Predicts Gold to Hit $3,000 by 2025
Goldman Sachs expert Samantha Dart attributes the surge in gold prices to central bank purchases, forecasting a rise to $3,000 per ounce by late 2025. Dart points to central bank acquisitions as the primary driver behind gold's price increase highlighting the significant impact of institutional buying on the precious metals market.
READ MOREBuffett's $325 Billion Question: Cash Cushion or Crash Concerns?
Warren Buffett's Berkshire Hathaway has amassed a record $325 billion cash pile, sparking speculation about his market outlook. While some interpret this as a bearish signal, experts argue it's a normalized cash-to-assets ratio for Berkshire. Buffett's recent stock sales, including reducing positions in Apple and Bank of America, have contributed to this cash accumulation. The lack of attractive investment opportunities at current valuations and potential preparation for leadership transition may explain this strategy, rather than solely anticipating a market downturn
READ MOREEconomy's Strength Prompts Fed to Rethink Rate Cut Plans
Recent economic data and proposed policies from the incoming Trump administration have prompted the Federal Reserve to adopt a more conservative stance on interest rate cuts. This change in outlook could lead to fewer reductions in 2025 than previously anticipated, potentially affecting mortgage rates, auto loans, and small business financing. The Fed now emphasizes a measured approach to rate decisions, citing the economy's current resilience.
READ MOREGold and Oil Rally Amid Escalating Ukraine Tensions
As the Russia-Ukraine conflict escalates, gold and oil prices surge while the euro weakens. Gold rose 5.4% this week to $2,688 an ounce, and Brent crude gained 4.5% to $74.29 a barrel. The U.S. dollar reached a two-year high as poor economic data and rising European gas prices pressured the euro. Tensions heightened after Russia fired a hypersonic missile into Ukraine, responding to Western weapons support for Kyiv.
READ MOREPound Plunges to 6-Month Low as UK Economy Falters
The British pound tumbled to its lowest level against the dollar since May, following weak economic data. November's business output shrank for the first time in over a year, while October's retail sales fell more than expected. This economic weakness may force the Bank of England to consider more aggressive rate cuts than previously anticipated.
READ MOREGoolsbee Hints at Cautious Approach to Future Fed Rate Cuts
Chicago Fed President Austan Goolsbee supports further interest rate cuts but suggests a slower pace may be appropriate. The Fed faces a debate on the speed and extent of rate reductions, with some officials concerned about stalled inflation progress and others worried about labor market cooling. Uncertainty surrounding President-elect Trump's policies adds complexity to the decision-making process. The upcoming December Fed meeting will be crucial in determining the next steps for monetary policy.
READ MOREChina Strikes Gold: 300-Tonne Deposit Found in Central Province
China has unearthed a massive gold deposit worth $83 billion in Hunan province. Geologists discovered over 40 gold veins containing 300 tonnes of gold within 2,000 meters depth at the Wangu gold field. This find could significantly boost China's gold production, which currently accounts for 10% of global output. The Hunan Academy of Geology predicts potential reserves exceeding 1,000 tonnes at depths beyond 3,000 meters.
READ MOREBarkin Sounds Alarm: US More Prone to Inflation Shocks
Richmond Fed President Tom Barkin warns that the US economy is now more vulnerable to inflation shocks than in previous years. While expecting overall inflation to continue declining, Barkin notes that businesses are more readily passing costs to consumers. He expresses concern about potential inflationary impacts from proposed policies, including tariffs and immigration changes, under a potential Trump administration.
READ MOREGold Shines as Tech Stocks Stumble: Four-Day Rally Continues
Gold prices continued their upward trend for the fourth consecutive day, driven by increased safe-haven demand amid disappointing tech earnings and ongoing geopolitical tensions. Spot gold rose 0.6% to $2,665.31 per ounce, with bullion up 4% for the week. Analysts attribute the surge more to falling stock markets following Nvidia's underwhelming forecast than to the Ukraine-Russia conflict.
READ MOREUBS Favors Gold Over Bitcoin as Hedge, Cites Lower Volatility
UBS Global Wealth Management's chief investment officer, Themis Themistocleous, advises that gold is a more effective hedge than Bitcoin due to its lower volatility. Despite Bitcoin's recent rally, UBS cannot recommend it to private clients, citing its extreme price fluctuations. Themistocleous suggests that traditional hedges like gold offer better portfolio protection with less risk.
READ MOREFinancial Reckoning: Bill Hwang's Archegos Fraud Comes Full Circle
Archegos Capital Management's Bill Hwang awaits sentencing for orchestrating a massive fraud scheme that resulted in billions of dollars in losses for Wall Street banks. Convicted on 10 charges, including fraud and market manipulation, Hwang faces up to 21 years in prison as recommended by prosecutors. The case highlights the risks of excessive leverage and the need for greater oversight of opaque investment vehicles.
READ MORECrypto Giant MicroStrategy Pushes Bitcoin to All-Time High
Bitcoin has surged to unprecedented levels following MicroStrategy's massive $4.6 billion purchase, pushing its total holdings beyond $30 billion. The company intends to raise $2.6 billion more for additional Bitcoin investments. The cryptocurrency hit $94,668, benefiting from post-election optimism and increased interest in Bitcoin ETF options, indicating market expectations of continued growth.
READ MORENew Treasury Shortlist Grows: Warsh and Rowan Join the Race
President-elect Trump intensifies his search for a Treasury secretary, scheduling interviews with Kevin Warsh and Marc Rowan. The expanded candidate pool, which includes Scott Bessent, aims to break the deadlock in selecting the nation's top economic policymaker. Senator Bill Hagerty, another potential cabinet contender, joined Trump for a SpaceX launch, highlighting the ongoing deliberations for key positions.
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