Gold Rose, Then Settled Back Down, After Last Week’s Inflation Releases

Wall Street always likes to cite “reasons” for the rise or fall of stocks or gold without any history or context but that has become a fairly useless exercise. Why? Because the real motivation for most investors is that when they like or don’t like an investment, they use some surface “reason” (excuse) for buying or selling it … on any given day.

The Official 2025 Gold Statistics Focus on Rising ETF Demand

Overall, total gold demand in 2025 surpassed 5,000 metric tons* for the first time in history. Gold enjoyed a record year of price gains in 2025, its best year since 1979, setting 53 new all-time highs during the year, while rising 65% year over year.  The biggest story was the rise in gold ETF buying around the world, with spectacular new gold ETF demand in India and a belated recovery in ETF buying in the U.S.

Why Gold Has Soared Since 2000 – and Especially Since 2020

Gold was flat, trading $250 to $300 per ounce, from 1998 to 2001, mostly because the federal government balanced the budget and the dollar was strong. In early 2001, the Congressional Budget Office (CBO) predicted we’d see budget surpluses forever and would pay off the entire national debt within a decade. The cumulative public debt was $5 trillion then and the CBO predicted $5.6 trillion in surpluses by 2011.

Gold has stayed above its $5,000 support level since February 20

After a small decline in early March, gold surged $100 on Monday, March 9, opening at $5,075 and closing $100 higher, at $5,175. Silver replicated that move with an even stronger surge, from a Monday opening of $83 to a close at $89. 

February and Year-to-Date Market Summary

February was another great month for precious metals – especially compared with a flat stock market – as the late January correction in precious metals prices caused enough gold bugs and new gold investors to buy on dips, as we have long counseled here.

Gold and Silver Prices Revive … While Stocks Sink Further

On Monday, February 23, precious metals soared while the stock market stumbled. On the futures market, the April Gold contract on COMEX rose $145 per ounce (+2.9%), from $5,059 to $5,204 per ounce and the March Silver contract rose by $4.25 (+5.2%) to $86.52. Meanwhile, each of the major stock indexes fell by over 1%, including a daily decline of 821 points in the Dow.

A Capsule Market Summary for January 2026

We’re a little later than usual with our one-month market summary but that gives us time and space to point out that – once again – the metals have rallied strongly after their sharp decline on Friday, January 30, and once again, our advice to “buy on dips” paid off, just as it did last October and last December.

Breaking Down The Recent Dip In Gold And Silver Prices

On Thursday morning, January 29, gold and silver were soaring to new record highs, as gold topped $5,600 at one point and silver momentarily hit $120. By the next day, gold fell to $4,700 and closed the week at $4,670.

The WGC Says India is Helping Drive Precious Metals Prices Up in 2026

In early 2026, we have seen record inflows into Indian gold ETFs, according to Kavita Chacko, the Head of Research for India at the World Gold Council (WGC). In last week’s WGC update, she said gold is rising due to geopolitical uncertainty: “Gold prices have extended their uptrend in 2026, scaling fresh record highs …

Silver is up over 12% and gold is up nearly 4% in the first nine days of the new year.

Silver’s superior gains are predominantly due to the new embargo on most silver exports from China, the leading silver refining nation.

Year-End Review: 2025 Delivered a Major Precious Metals Bonanza

Even the Wall Street pundits are impressed. When listing the top investment of 2025, “Investopedia” listed 44 leading investments – stock indexes, bonds, commodities and currencies – and all of the top five spots were allotted to metals.

Gold, Silver, Platinum and Palladium All Outperform Stocks for 2025

Silver skyrockets, up 175% this year, and +18% in the last week alone, but Platinum is up even more, +24% last week and +179% for the year-to-date.

Gold and Silver Reach New All-Time Highs … Again

Gold Rose Another $70 last week to set another new all-time high, while silver once again lapped the yellow metal, rising $6 (+10%), from $61 to $67 per ounce, another all-time high. But silver wasn’t done. It moved past $69 an ounce early Monday.

Gold and Silver Reach New All-Time Highs … Again

Gold rose by another $100+ per ounce this past week, reaching a new record high of $4,385 on the futures market on Friday, December 12, and platinum also rose by $100 per ounce (+6%). However, silver was the biggest story, rising nearly 10% to $62 per ounce and at one point exceeding $65 on the futures market.

It’s Time to Roll Over (or Establish) a Gold-based IRA for 2026

For much of the past century, it's been a tough time to invest in gold in America, with most gold coins and bullion being forbidden to own for 41 years, from 1934 to 1974, but as of the last day of 1974, gold was once again legal for Americans to own.

Month-End November and 11-Month Market Recap

Silver was the star in November, up 19%, and 95% for the year so far, setting a new record high by a long shot, above $56 per ounce. Gold followed suit but silver seems to be the new leader (over gold and platinum) last month, last year and since 2020. 

More Reasons for Thanksgiving – Gold and Silver Double Since Thanksgiving of 2023

As Thanksgiving approaches next week, another reason to be thankful is that gold and silver have more than doubled in the two years since Thanksgiving 2023

Some Banks See $5,000 Gold in 2026, Others Settle for $4,200 but We See Higher Potential

Analysts at Germany’s Commerzbank and Switzerland’s UBS are now projecting $4,200 gold in 2026, given “ongoing political uncertainty and weak economic activity.” They appear to be a little late to the game, as usual, since gold again surpassed $4,200 on Wednesday. 

10-Month (and October) Market Summary

Both gold and silver gained 3.7% last month, slightly more than the Dow and S&P 500 gains.

The Gold (and Coin) Bull Market of 1976-80 Began in the Bicentennial Year (1976) – And America’s 250^th Birthday Could Fuel a Similar Bonanza in Coins and Metals

Gold reached a low of barely $100 per ounce in September 1976, just after America’s 200th birthday and just before the election of Jimmy Carter, who defeated the incumbent, Gerald Ford.  From that $103 base price, gold multiplied more than eightfold over the next 3.25 years, to $850 in January 1980.

Gold Sees a Much-Needed Price Correction, So we can “Buy on Dips”!

On Tuesday, October 21st, investors sold off gold by over $200 per ounce (-5%). Is this cause for concern?

No. For several months now, I have wondered why gold has not suffered any significant price correction like this during a year of 50%+ price gains – the best yearly performance by gold in any full year since 1979, when gold more than doubled.

Gold is Now Up 200-Fold (nearly 20,000%) Since FDR’s 1933 Gold Grab

The Federal Reserve is now over a century old and it’s hard to see any bright side in its track record. At first, the Fed fueled deflation and caused – then prolonged – the Great Depression. Then, they fell into the opposite ditch, fueling too much inflation from the 1960s onward, often due to political pressure to create an artificial sort of growth, in nominal (but not real) terms.

Gold Tops $4,000 – Doubling in Under 2 Years

On Tuesday, October 7, gold on the futures market pierced the $4,000 level. Gold did not reach $3,000 until mid-March 2025, and now it has crossed $4,049 – less than seven months later.

Wall Street Keeps “Chasing” the Gold Price with “Revised” Predictions

Jeffrey Gundlach, the Founder and CEO of DoubleLine Capital, was crowned as the “bond king” of Wall Street by Barron’s back in 2011, but lately he clearly favors gold over most bonds. When gold first crossed $3,000 this year, he predicted $4,000 gold, while saying an investment portfolio with 25% in gold is “not excessive.” Like I have done for years, he is now describing gold as an “insurance policy.”

Don’t Sell Your Rare Coins in the Fourth Quarter of the Year - (Wait until February for Typically Better Selling Prices)

As the season just turned into autumn and the year’s final quarter begins next week, this is a good time to remind all clients and coin investors everywhere of a profitable “tip” for the season ahead.

The Case for $7,000 Gold in 2026 – and $10,000 By 2030

Some new trends, if continued, could result in a doubling of gold prices to $7,000 next year and a potential tripling to $10,000 or more within five years. These trends are led by institutional demand – central banks trading their eroding paper dollars for gold and private demand through both gold ETFs and the physical metal.

Wall Street is Finally Getting on the Gold Bandwagon

Last week, Goldman Sachs, the major Wall Street financial institution, forecasted that the gold price could rise just as fast in the next 12 months as in the previous 12 months. The firm predicted prices of $4,500 and beyond in 2026, perhaps reaching $5,000 if “certain conditions” are met.

August Was a Huge Month for Precious Metals And September is Starting Out Even Stronger

Although gold didn’t match the faster rise in silver and platinum, gold pierced the $3,500 level over the weekend. That’s 100 times its fixed price back in 1970.

Eliminating the Penny from Circulating Coinage Article Wins Top Award

Each year, the Numismatic Literary Guild (NLG), founded in 1968, hosts its annual awards competition, held in conjunction with the American Numismatic Association’s World’s Fair of Money. It’s a tradition that dates back several decades and is highly regarded by the industry for its recognition of the top writers, authors, publishers, content creators and podcasters.

The Consumer Price Index (CPI) Continues to Rise Slowly Despite the Fed’s Rate-Cut-Phobia Over Tariff Fears

Federal Reserve Chairman Jerome Powell keeps expecting President Donald Trump’s tariffs to generate more inflation but Trump’s higher tariffs in his first term did not cause a rise in inflation and neither are the current tariffs.

July 2025 and Year-to-Date Market Review

The months of August and September are typically a downtime for the U.S. stock market indexes – the worst two months of the calendar year, by a long shot.

The Dollar is Down 10% So Far in 2025… As I Predicted in January

In my first Metals Report of this year (January, Week 1), I wrote: "Bank of America estimates that the dollar is more than 20% overvalued. If the dollar sinks by even 10% in 2025, gold could easily score another 14% gain to $3,000, or in a best-case scenario, achieve a 25% gain to $3,300."

Silver Price Predictions Reach the Stratosphere, at $200+

Silver is up over 35 percent, so far in 2025. Two weeks ago, a COMEX (commodity exchange) executive predicted silver could rise at least fourfold in the next few years. While we are skeptical of predictions of any huge price jumps – we prefer a solid, slowly rising bull market – his views are worth a listen.

Fed Curiously Ignores Pressing Need to Cut Interest Rates

On Tuesday, July 15, the Consumer Price Index for June was released, reflecting yet another mild rise, up 0.3% on a seasonally adjusted basis. Over the past 12 months, the CPI is up 2.7%. Shelter costs rose 0.2%, energy rose 0.9% and food increased 0.3%. The “core” index rose 0.2% in June, following a 0.1% increase in May, yielding a super-low 1.8% two-month annual rate.

Several States Are Creating a Revived Gold Standard

Texas joined the new gold and silver currency bandwagon with several other states after Governor Greg Abbott signed a bill on June 29 creating what may be the most comprehensive precious metals financial transaction platform in the nation.

Mid-Year Review of Metals and Other Markets

After a stellar first half, the metals continued their bullish run on the first trading day of the second half of 2025. Gold is up $44 per ounce in the futures market (+1.3%) and silver is up $0.60 (+1.6%).

Gold Tends to Soar, Long-Term, When New Major Wars Break Out

The U.S. Dollar Index (DXY) is now down 11% this year, reaching a three-year low, which Bank of America and I both predicted in 2024 would likely occur.

Central Banks Continue to Buy Gold, Creating a New Gold Standard

Gold is up almost 30% this year. It is also up over 55% since the start of 2024 and it has doubled since October of 2022. This fact is not lost on central bankers or private investors.

What Pushed Silver Up Nearly $4, a Rate of Nearly 12%, in Early June?

June is “Busting Out All Over” for most of the precious metals (except for gold). In the first 10 days of June, we’ve seen double digit gains in silver, platinum and palladium, even while gold is up less than 2%.

Monthly Market Review for May and 2025 (So Far)

Three of the four major market indexes are slightly below zero through May 31, while gold has gained 26%. All of the precious metals are still up strongly for the year-to-date, even though most commodities are down and the CRB Commodity Index is down -0.4% for the year so far.