Silver serves three distinct roles: an industrial metal, a monetary asset, and a jewelry staple. These functions overlap, and the balance between them has shifted meaningfully in recent years. The chart above illustrates how demand splits across these three sectors and highlights the notable change in silver’s demand profile since 2016. Silver Market Structure Silver … Read more

Gold is on a strong upward trajectory, reaching record highs as investors respond to rising geopolitical tensions, economic uncertainty, and significant purchases by central banks. While these price levels prompt comparisons to the 1980 peak—an era marked by runaway inflation and deep political instability—today’s macroeconomic backdrop is distinct. Current inflation and unemployment are comparatively lower, … Read more

Federal Reserve officials now expect a more gradual pace of interest-rate reductions in 2025, a noticeable change from the aggressive easing seen in 2024 when rates were cut by a full percentage point. That more cautious stance reflects several key considerations: inflation has not fallen to the Fed’s 2% target as quickly as officials hoped, … Read more