Precious Metals News

Producer prices rose significantly more than expected in July, throwing markets into turmoil and calling into question what seemed like an almost certain Federal Reserve interest rate cut in September. The big jump in wholesale price inflation seemed to confirm worries that aggressive tariffs would eventually manifest in higher price inflation.

The Bolivian government is using gold to maintain its solvency. Large amounts of dollar-denominated debt burden Bolivia, and the country owns the lowest credit rating of any Latin American country, according to S&P Global. The country’s debt is rated Ca, defined as “likely in, or very near, default.” It is the second-lowest rating on the scale.

In a recent interview, the Honorary Professor of Economics at the University of Bayreuth and publisher of the BOOM & BUST REPORT said gold and silver are setting up for “important structural breakouts,” and that the price could double in the next five to 10 years. So what is driving gold higher?

The July CPI data indicated moderate price inflation and boosted optimism for a September interest rate cut, even though monetary inflation is on the upswing. There were no big surprises in the July CPI data, with the numbers generally coming in as forecast, but…

Citibank just did a 180 on gold and now forecasts new record highs before the end of the year. Just six weeks after lowering its forecast and warning that gold could drop below $3,000 before the end of the year, Citibank now projects gold will hit $3,500 over the next three months. This would put it in range to eclipse the record high hit in April.

Gold outperformed every major asset class in the first half of the year, but it wasn’t the top commodity. That honor goes to platinum, charting a 49.8 percent gain through H1, rising from around $900 an ounce in January to $1,360 at the end of June. That compares with a 25.9 percent increase in the price of gold and a 24.9 percent rise in silver.

Serbia holds 50.5 tonnes of gold, valued at roughly $6 billion. The country began repatriating its gold in 2021, “an environment of increased global uncertainty,” according to statements by a bank official during a Q&A session. All of Serbia’s gold is now stored in Belgrade, except for 5 tonnes currently held in Swiss vaults.

Gold was up nearly 26 percent through the first six months of 2025, ranking as the top-performing asset class. This booming performance continued the momentum built in 2024 when gold surged by 26.5 percent. After recording 40 all-time highs in 2024, gold set another 26 all-time highs through the first six months of this year.

Are undeclared silver purchases by the Russian government boosting the price of silver? There is some anecdotal evidence that they are. Silver is up nearly 28 percent this year. It briefly traded above $39 an ounce earlier this week. Even with those gains, the gold-silver ratio is over 100-1, signifying that silver is significantly underpriced compared to gold.

Based on the latest Consumer Price Index (CPI) data, prices showed signs of creeping higher in June. However, there were enough dovish points in the data to support those pushing for looser monetary policy. The headline annual CPI spiked from 2.4 percent in May to 2.7 percent in June, according to the latest data from the BLS.

Since hitting an all-time high of $3,500 in April, gold has consolidated and generally traded sideways in a range between $3,200 and $3,400 an ounce. Does this mean the bull run is over? A recent report by Metals Focus argues that while there are still plenty of short-term headwinds, the gold price remains well-supported, with strong potential for further upside.

Several interesting stories featured in the latest edition of the Silver Institute’s bi-monthly Silver News report. Based on the survey, 92 percent of retailers are optimistic that silver jewelry sales will continue to grow for the next several years. That’s up from 88 percent in 2022.

Affluent Hong Kong investors have nearly tripled their gold holdings over the last year. According to an HSBC survey, Hong Kong residents with $100,000 to $2 million in investable assets have allocated an average of 11 percent of their portfolios to gold and other precious metals. That was up from a 4 percent allocation just one year ago.

As we celebrate America’s independence, there is a lot of focus on the Founding Fathers. After all, they drove the American Revolution. The revolution was a mindboggling accomplishment. It was incredible that rag-tag U.S. forces were able to face down the mighty British Empire.

The pace of central bank gold buying picked up slightly in May. Globally, central banks officially added a net 20 tonnes of gold to their reserves in May, according to the latest data compiled by the World Gold Council. This compares to 14 tonnes in April.