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Silver prices have regained momentum after holding support above 48 dollars an ounce, climbing back over 50 dollars following renewed optimism from its inclusion in the U.S. Geological Survey’s 2025 List of Critical Minerals. This classification has strengthened the view that industrial demand for silver will rise, tightening global supply chains and supporting higher prices. The metal recently reached a record high of 54.48 dollars an ounce as physical demand reduced available stocks in London, and U.S. bullion banks became more cautious about releasing holdings due to potential tariffs linked to silver’s new critical status.
Despite the rally, TD Securities’ Senior Commodity Strategist Daniel Ghali cautioned that silver remains exposed to a correction because supply pressures have eased. Data shows that London vaults now hold about 198 million ounces, with a sharp increase in available silver due to recycling and inflows from other regions. Ghali noted that much of the replenishment came from private vaults and scrap sources, suggesting that the market’s tightness has lessened. He added that another squeeze in prices would require further inventory depletion in Shanghai and New York or restrictive trade measures that could limit global rebalancing. Source
Central banks continued to play an active role in the gold market in October, even as prices stayed high around 4,000 dollars an ounce. The National Bank of Poland led global purchases, adding 16 tonnes to its reserves, bringing its total to 530 tonnes, or 26% of overall reserves. China followed with a smaller addition of one tonne, marking its lowest monthly increase in three years, while the Czech National Bank bought two tonnes and Uzbekistan increased holdings by nine tonnes. The latest activity reflects ongoing interest in gold as a strategic reserve asset, despite the strong price environment.
According to the World Gold Council, central banks collectively bought about 220 tonnes of gold in the third quarter, a 10% increase from last year, though the total pace for 2025 remains below the highs of recent years. So far, 634 tonnes have been added globally, with year-end projections of between 750 and 900 tonnes. Analysts note that the slowdown in purchases partly reflects the 50% rally in gold prices this year, which reduces the need for large-volume buying to maintain target allocations. Still, economic uncertainty and the desire for diversification are expected to keep central banks engaged in gold accumulation going forward. Source
Silver’s recent addition to the U.S. Geological Survey’s 2025 List of Critical Minerals has heightened expectations for renewed price strength and market volatility. While silver remains a valuable precious metal, over 60% of its demand now comes from industrial uses, particularly in solar power and electronics, leading to persistent supply deficits over the past five years. With growing U.S. stockpiles and tightening supplies in London amid strong Indian demand, lease rates have surged, and the market has entered backwardation. The new designation could also expose silver to potential tariffs under President Trump’s Section 232 probe, as the administration prioritizes domestic production of critical metals.
Analysts warn that this shift will likely intensify silver’s supply challenges and increase price volatility. Matthew Piggott of Metals Focus noted that ongoing industrial demand will prevent the market from achieving a surplus anytime soon, keeping prices elevated. He added that higher prices could encourage solar manufacturers to reduce silver usage through thrifting or substitution with copper, though the technology for large-scale replacement remains unproven. Ultimately, the balance between industrial demand, technological adaptation, and policy-driven supply constraints will shape silver’s trajectory in the coming years. Source
Gold prices are consolidating around the 4,000 dollar mark, which has become a major resistance level as market uncertainty grows amid the prolonged U.S. government shutdown. With official economic data unavailable, analysts are relying on mixed private-sector reports, making it harder to gauge the economy’s true health. Despite the lack of a clear catalyst, gold’s long-term outlook remains positive, supported by expectations of future U.S. interest rate cuts, strong central bank demand, and its role as a safe-haven asset. Analysts note that while the metal may continue to trade sideways in the near term, the risks remain skewed to the upside.
Market watchers describe the 4,000 level as a key psychological threshold that may prove difficult to break without new economic or monetary developments. Uncertainty around U.S. policy, labor market weakness, and potential Federal Reserve actions could all influence gold’s next move. A softer U.S. dollar or a downturn in equity markets may also act as triggers for renewed buying. For now, analysts expect gold to remain in a wide trading band between 3,900 and 4,400 dollars per ounce, with investors closely watching the upcoming Fed meeting for signs of a rate cut that could push prices higher. Source
Gold prices rose 0.44% this week as investors sought safety amid ongoing U.S. economic uncertainty and expectations of rate cuts. The metal remains on track for its best annual performance since 1979, supported by central bank demand and lower bond yields. Hecla Mining led gains in the sector, surging 12% after reporting strong quarterly results, with revenue and silver output far exceeding expectations. The company raised capital guidance for its Keno Hill project and reaffirmed cost targets, while maintaining positive free cash flow across all operations. Despite China’s decision to end its value-added tax rebate for gold retailers—which could weigh on jewelry demand—analysts believe safe-haven flows will keep gold prices resilient near 4,000 dollars an ounce.
However, weakness persisted in parts of the precious metals sector, with palladium down 2.65% and several miners, including SSR Mining and B2Gold, missing production and cash flow targets. Industry opportunities remain strong as consolidation accelerates, illustrated by Coeur’s acquisition of New Gold and major strategic investments such as Gold Fields’ stake in Founders Metals. Companies like Torex Gold are initiating shareholder return programs amid solid financial performance. Still, rising costs, taxes, and operational pressures pose threats, with miners like Fortuna and Galiano facing margin compression and higher sustaining costs. Both gold and silver remain in correction territory, but analysts see portfolios weighted toward gold as better positioned in the current volatile environment. Source
Gold prices remained flat this week, closing near 4,000 dollars an ounce for the second consecutive week, as the market struggled for direction amid the record-long U.S. government shutdown. While Wall Street analysts were mostly neutral on the metal’s near-term outlook, Main Street investors stayed bullish, expecting higher prices ahead. Analysts said gold has built a strong price floor but needs a new catalyst to push above resistance levels, with many citing continued safe-haven appeal, central bank demand, and expectations for future rate cuts as supportive factors. However, the lack of key economic data due to the shutdown has limited momentum, leaving traders to focus on technical levels between 3,950 and 4,060 dollars.
Survey results from Kitco News reflected the divide in sentiment: 59% of Wall Street analysts were neutral, 32% bullish, and 9% bearish, while more than half of Main Street respondents expected prices to rise. Analysts said a breakout above 4,030 dollars could trigger renewed buying, while a drop below 3,930 would signal further weakness. Despite short-term uncertainty, most market watchers see gold’s broader fundamentals as positive, pointing to geopolitical risks, potential policy shifts, and the ongoing debate over U.S. tariffs as factors that could eventually drive a new rally. Source
Gold prices have seen a strong surge, climbing 2% to US$4,080.09, their highest level since late October. This rise has been driven by weaker U.S. economic data, a softer dollar, and growing optimism about a possible Federal Reserve rate cut. The ongoing government shutdown and declining consumer confidence have weighed on growth, while the anticipation of policy easing has made gold more attractive. Investors are drawn to gold’s safe-haven appeal amid economic uncertainty, though analysts caution that much of this momentum may already be priced in.
From a technical perspective, gold’s long-term outlook remains positive, though near-term resistance could stall further gains. The metal needs to break above the US$4,300 resistance level with strong buying support to maintain its rally, while failure to do so could see it test its 50-day moving average. Overall, gold’s rise rests on fragile foundations — economic weakness, rate-cut expectations, and safe-haven demand. A potential fiscal resolution could trigger profit-taking and reduce upward pressure, yet the broader environment of a slowing economy and a weaker dollar continues to support gold’s elevated position. Source
Image Source: Kitco News
Gold futures soared by $112 to $4,120.20 per troy ounce, signaling a potential end to a two-week consolidation phase and a resumption of the broader uptrend. After peaking at $4,374 in October, gold underwent a sharp correction, dropping to $3,901.90 before stabilizing near the 61.8% Fibonacci retracement level. Monday’s rally was driven by renewed confidence in a possible Federal Reserve rate cut in December and cautious optimism about resolving the prolonged government shutdown. These developments have reinvigorated bullish sentiment, with the breakout suggesting the market may be ready to extend its strong upward momentum.
The correction phase is now seen as a healthy pause in an otherwise powerful bull market that began in mid-August, supported by persistent inflation concerns, central bank demand, and expectations of monetary easing. Analysts remain optimistic about gold’s trajectory through year-end and into 2026, with projections that it could challenge or surpass recent record highs if current conditions persist. The strength of the latest advance, coupled with favorable macroeconomic signals, points toward renewed upward movement, suggesting the consolidation phase may have concluded. Source
Barrick delivered record third-quarter results as rising gold prices and improved production strengthened its financial performance. The company reported adjusted net earnings of $982 million, or $0.58 per share, nearly doubling last year’s figure of $529 million. Operating cash flow surged to $2.4 billion, while free cash flow reached $1.5 billion, representing significant year-over-year gains. These results prompted Barrick to raise its base quarterly dividend by 25% to $0.125 per share and introduce a $0.05 performance dividend, bringing the total payout to $0.175 per share. The miner also expanded its share buyback program to $1.5 billion, reflecting confidence in continued strong cash generation.
Operationally, Barrick produced 829,000 ounces of gold in the third quarter, up 4% from the prior quarter, though 12% lower than the same period a year earlier. Copper output declined 7% quarter-on-quarter to 55,000 tonnes. The company’s cost control remained solid, with all-in sustaining costs of $1,538 per ounce, down 9% from the previous quarter. With average realized gold prices up 39% to $3,457 per ounce, Barrick reaffirmed its annual production guidance, expecting total gold output of 3.15 to 3.50 million ounces, with the strongest results anticipated in the fourth quarter. Source
Gold and silver prices surged on Monday amid growing optimism that the U.S. government could soon reopen, with gold hitting a two-week high at $4,100.70 and silver reaching a three-week peak at $49.85. The expectation that a resolution to the shutdown would restore the flow of economic data has fueled speculation that the Federal Reserve might proceed with a rate cut in December, boosting demand for precious metals. The Senate advanced a bill to end the government shutdown, though its passage in the House remains uncertain. Political developments and delays in releasing key economic data, including inflation and employment figures, have created additional volatility and sustained investor interest in safe-haven assets like gold and silver.
Technical indicators show that both metals maintain strong upward momentum, with gold bulls targeting a close above $4,200 and silver bulls aiming to break through the $50.00 level to potentially reach new record highs. Market sentiment remains broadly bullish, supported by expectations of monetary easing and political progress. Despite some short-term resistance levels, traders are viewing the latest rally as part of a broader positive trend in precious metals markets. Source
Gold prices have regained momentum, rising above $4,100 an ounce after a brief two-week correction, though they remain about 6% below last month’s all-time highs above $4,360. Analysts, including Tim Hayes of Ned Davis Research, view the recent pullback as a natural profit-taking phase rather than a shift in fundamentals, suggesting the correction may now be over. Elevated gold volatility, which has historically coincided with strong price performance, along with NDR’s bullish Gold Watch indicators, point to continued upside potential. Hayes highlights that the macroeconomic backdrop supporting gold remains solid, reinforcing his bullish outlook.
Despite some caution regarding a strengthening U.S. dollar and elevated real yields, Hayes notes that technical and sentiment indicators favor a resumption of gold’s upward trend. Short-term bearish sentiment has been shaken out, aligning with longer-term bullish models, and lower prices may represent a buying opportunity for investors. As a result, gold is positioned to target new record highs, supported by volatility-driven momentum, favorable macro conditions, and continued market interest in safe-haven assets. Source
In this week’s Live from the Vault, Andrew Maguire welcomes Lynette Zang to expose the global shift towards centralised digital currencies engineered for surveillance and control and the accelerating collapse of the debt-based fiat system.
Both experts emphasise the power of gold and silver as honest, decentralised assets that preserve purchasing power, protect freedom, and enable communities to withstand the collapse of the economic system during the monetary transition.
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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