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The World Gold Council’s (WGC) Q2 Gold Demand Trends report indicates a robust return of retail investors to the market, fuelling a 3% increase in global gold demand. This surge, reaching 1,249 tonnes, occurred despite gold prices hitting all-time record highs. The demand was primarily driven by strong investment in gold-backed exchange-traded funds (ETFs) and a notable increase in physical bullion (bars and coins), as economic uncertainty prompted investors to seek safe-haven assets. While investment demand soared by 78% year-over-year, central bank purchases, another key pillar of the market, slowed slightly in Q2, though they remained above long-term averages.
A key countertrend was observed in the jewellery sector, where global demand by volume fell by 14% to a three-year low. However, due to the high price of gold, the total value of these purchases rose to $36 billion. The WGC also noted a decline in gold demand from the technology sector, attributed to global trade uncertainty and high prices, despite strong demand for AI-related components. Despite a significant increase in gold prices, the supply of recycled gold only saw a modest 4% rise, a slower-than-expected response. Overall, the report suggests a widespread return to gold as a portfolio diversifier and safe-haven asset amidst global instability and high prices. Source
The gold market experienced a significant surge, gaining around $30 an ounce, following the release of a weaker-than-expected U.S. jobs report for July. The U.S. economy added only 73,000 nonfarm payrolls, falling short of the anticipated 106,000 jobs. Adding to the signs of a slowing labor market, the Bureau of Labor Statistics also issued substantial downward revisions to the job numbers for May and June, slashing the combined total by 258,000. This data has led to a notable shift in market sentiment, with a 75% chance now being priced in for a Federal Reserve interest rate cut in September.
Analysts believe the weak employment figures and downward revisions are putting pressure on the Federal Reserve to consider a more dovish monetary policy. This is a significant change, as just a few days prior, the Fed had decided to keep interest rates unchanged. The potential for a rate cut, coupled with the possibility of safe-haven demand as investors grow concerned about the economy, is seen as a strong bullish factor for gold. While wage growth remains solid, the overall picture of a weakening labor market suggests that the Fed may prioritize economic growth over inflation concerns, a scenario that traditionally supports higher gold prices. Source
Gold prices are continuing their upward trend and are now testing a key resistance level of $3,350 per ounce, buoyed by further evidence of a weakening U.S. economy. The Institute for Supply Management (ISM) reported that its Manufacturing Purchasing Managers Index (PMI) fell to 48 in July, a decline from 49 in June and below market expectations. This reading indicates a contraction in the manufacturing sector for the fifth consecutive month. Analysts see this soft data, which follows a recent disappointing jobs report, as a strong signal of an economic slowdown, reinforcing gold's appeal as a safe-haven asset for investors.
The ISM report highlighted broad-based weakness in the manufacturing sector, with 79% of the sector's gross domestic product contracting in July. Despite some components like new orders and production showing slight increases, the employment index dropped significantly, further confirming the cooling labor market. The weak manufacturing data also contributed to a decline in the Prices Index, suggesting that costs are easing. This overall picture of a sluggish economy, coupled with a slowing labor market, is likely to keep gold prices supported as investors seek to hedge against growing economic uncertainty. Source
The gold market is experiencing a significant shift in sentiment, with Wall Street analysts turning extremely bullish after recent U.S. labor market data disappointed expectations. The Bureau of Labor Statistics reported that only 73,000 nonfarm payroll jobs were created in July, far below the anticipated 106,000. This weak number was compounded by major downward revisions to job growth for May and June. These figures have reignited hopes for a Federal Reserve interest rate cut in September, which would typically be a positive catalyst for gold prices by lowering the opportunity cost of holding the non-yielding asset.
Beyond the domestic economic data, analysts also cite ongoing global trade tensions and President Trump's implementation of new tariffs as another factor supporting gold's safe-haven appeal. With various countries facing elevated import fees, there's a belief that nations will reduce their use of the U.S. dollar, leading them to seek alternative monetary assets like gold. The combination of a potentially dovish Fed policy and geopolitical uncertainty has reset momentum indicators, giving analysts confidence that gold has the potential to break out of its recent trading range and move toward a new resistance level around $3,440. Source
The gold market experienced a volatile week, with prices initially falling to a four-week low below $3,300 per ounce. This decline was triggered by a hawkish comment from Federal Reserve Chair Jerome Powell, who, after keeping interest rates unchanged, stated that "We have made no decisions about September," which pushed down the probability of a rate cut to just 37%. However, the market's direction dramatically reversed on Friday following the release of a disappointing U.S. employment report. The report showed the economy created fewer jobs than expected and included significant downward revisions for previous months, causing gold to jump by $30 and pushing prices back up.
This rally was fuelled by a swift change in market expectations, with the CME FedWatch Tool now indicating a 90% chance of a September rate cut and a 50% chance of a full percentage point reduction before the end of the year. The renewed belief in a more accommodative monetary policy, combined with strong investment demand for gold as a safe-haven asset, has provided significant support for the metal. Recent data from the World Gold Council's Gold Demand Trends report also highlighted that investment in gold-backed ETFs is at its highest level since 2020, suggesting that investors are increasingly turning to gold to protect their wealth amid economic uncertainty, despite the recent price volatility. Source
Gold is experiencing a significant late-week rally, pushing prices toward a key resistance level of $3,400 per ounce, largely due to a new wave of confidence among gold bulls. This resurgence comes after a disappointing U.S. labor report for July, which showed the economy created only 73,000 jobs, far below expectations. Furthermore, job numbers for May and June were revised down by a massive 258,000. This data, which paints a picture of a weakening labor market, has led to a dramatic shift in interest rate expectations, with the CME FedWatch Tool now indicating a 92% chance of a Federal Reserve rate cut in September.
In addition to the domestic economic weakness, the article highlights that ongoing global trade tensions and the implementation of new U.S. tariffs are providing further support for gold. Analysts believe that these tariffs, which have significantly increased import fees for many key trading partners, could lead nations to reduce their reliance on the U.S. dollar and instead turn to gold as a primary monetary asset. This combination of a more dovish Fed outlook and heightened geopolitical uncertainty is bolstering gold's role as a safe-haven asset, with market strategists suggesting that the price is well-positioned for a run toward the $3,400 mark and potentially higher. Source
Marathon Fusion, a San Francisco-based startup, has published a research paper claiming it can use nuclear fusion to transmute mercury into gold. This process, which has not yet been peer-reviewed, uses neutrons from a fusion reaction to alter mercury's atomic structure, converting it into gold. The company states that this method could be highly scalable and economically viable, allowing a single gigawatt power plant to produce an estimated 5,000 kilograms of gold per year, generating over $500 million in revenue. This supplemental income, they argue, could fundamentally change the economics of fusion power and accelerate its deployment.
The company acknowledges a key challenge: the gold produced would be radioactive and require a "cool down" period of seven to seventeen years before it could be sold or used. However, Marathon Fusion believes this is not a significant economic obstacle, as the potential revenue from the gold could still offset the costs of both production and the necessary storage. The proposal has garnered significant attention, including from a research physicist at Princeton Plasma Physics Laboratory, who serves as a scientific advisor to the company, and has helped the startup raise millions in investment and government grants. Source
Gold, silver, and platinum prices are all showing potential weakness on the horizon, according to precious metals analysts at Heraeus. The report highlights that gold jewelry consumption in both China and India has fallen significantly in the first half of the year due to persistently high prices. In China, total gold consumption was down 3.5%, with the jewelry sector contracting by 26%, reaching its weakest level since 2009. This decline was partially offset by a strong demand for physical gold bars and coins, but even this investment segment saw a reversal in ETFs during July. Heraeus suggests that for jewelry demand to recover in these key markets, gold prices will need to moderate from their current highs.
For other precious metals, the demand outlook is also mixed. Silver is facing headwinds from a projected decline in new solar installations in the European Union for the first time in a decade, primarily due to a sharp drop in the residential rooftop segment. This, combined with ongoing efforts by manufacturers to reduce the amount of silver used per solar cell, threatens to halt growth in silver demand from the solar sector this year. Similarly, platinum demand is being hit hard by the heavy losses in the European diesel car market, with registrations down 28% year-to-date. This contraction, along with pressure in the heavy-duty trucking sector, is expected to cause platinum demand from diesel autocatalysts in Western Europe to fall by nearly 20% in 2025. Source
Banking giant Citi has dramatically revised its gold forecast, now predicting the price will reach $3,500 per ounce within the next three months. This new bullish outlook, which also raises the expected trading range to between $3,300 and $3,600, represents a significant reversal from the bank’s previous stance just six weeks prior. The bank’s analysts attribute the change to a number of factors, including elevated concerns over U.S. growth and inflation, particularly in light of recently announced import tariffs on several major trading partners. The forecast is also supported by weaker-than-expected Q2 U.S. labor data, which has increased expectations for a Federal Reserve rate cut.
The bank's new forecast stands in stark contrast to its mid-June report, in which analysts lowered their gold price targets and warned that the metal could fall below $3,000 per ounce by the end of the year. The shift is based on a reassessment of the economic landscape, which now appears more negative than previously thought. Citi also points to strong gold demand, driven by robust investment and consistent central bank purchases, as well as geopolitical risks related to the Russia-Ukraine conflict, as key drivers for the metal's upward momentum. Source
Gold and silver prices gained momentum on Monday, as market sentiment shifted toward a Federal Reserve interest rate cut in September. This change was largely spurred by a disappointing U.S. jobs report released last Friday, which showed that the economy created far fewer jobs than expected in July, and that data for May and June was significantly revised lower. President Trump reacted by firing the head of the Bureau of Labor Statistics, accusing the agency of manipulating the data, and announced that he would be nominating new officials in the coming days.
The downbeat jobs data has led to a collapse in the U.S. dollar and has solidified the view among many analysts that a rate cut is imminent. While the U.S. stock market also rallied on Monday, potentially tempering gains in the safe-haven metals, gold and silver futures saw decent increases. Technically, gold bulls are in control and aiming for the next resistance level at $3,450 per ounce, while silver futures also hold a near-term technical advantage. The article also notes that a lower U.S. dollar and a drop in crude oil prices are contributing to the positive sentiment for precious metals. Source
According to FX Empire analyst Vladimir Zernov, gold, silver, and platinum are all testing key resistance levels, driven by the lingering effects of last week's weak U.S. jobs report. Gold has moved above $3,370 an ounce and is targeting the next resistance level between $3,440 and $3,450. The momentum in the precious metals market is being fueled by traders' belief that the Federal Reserve will now be more likely to cut interest rates, a sentiment that has been reinforced by the recent disappointing economic data.
Silver, in particular, is showing strong gains and is attempting to settle above the $37.50 per ounce level. Zernov noted that if silver can move past this resistance, its next target would be $38.35. Platinum also saw a boost in demand and briefly broke above resistance at $1,350 per ounce, with analysts suggesting that if it can maintain this position, it could move toward the next resistance level between $1,400 and $1,405. The overall bullishness across the precious metals market indicates that traders are looking to these assets as a safe haven amid economic uncertainty. Source
In this week’s Live from the Vault, Andrew Maguire welcomes Sirius Report’s London Paul to examine how BRICS nations are accelerating regional trade in local currencies, quietly anchoring the Chinese yuan to gold and driving global demand for physical gold and silver.
As the US struggles to contain this monetary shift, both experts unpack a growing Eastern-led financial realignment that threatens Western currency dominance and signals the early stages of a gold-backed settlement system designed to rival the dollar’s global role.
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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