Lower Interest Rates Help Gold & Silver Rally

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	Gold Price Gains As Powell Signals Rate Cuts But Inflation Risk Clouds Outlook
	Federal Reserve Chair Jerome Powell has opened the door to rate cuts next month, but that position could become complicated if inflation pressures continue to rise... Neils Christensen
	U.S. Tariffs A "Net Positive" For Mining Industry Says Wheaton CEO Randy Smallwood
	The highest U.S. tariffs since the 1930s are a surprising “net positive” for the global mining industry, according to Randy Smallwood, President and CEO of Wheaton Precious Metals... Jeremy Szafron
	Fed Chair Powell’s Keynote Speech Could Be Next Catalyst For Gold And Silver Prices
	Gold and silver continue to trade in tight ranges as traders await the next catalyst for price action – and Fed Chair Powell’s keynote speech from Jackson Hole on Friday is the next potential trigger, according to Ole Hansen, head of commodity strategy at Saxo Bank... Jim Wyckoff
	Gold & Silver Rally As U.S. Stock Indexes Sell Off
	Gold and silver prices are solidly higher near midday Wednesday, supported in part by a sell off in the U.S. stock indexes at mid-week and by some fresh technical buying... Jim Wyckoff

Last Thursday it was reported that July existing-home sales increased 2% which was considered neutral for precious metal prices. However, on Friday, we got the news we were hoping for. Federal Reserve Chairman Powell, in a speech in Jackson Hole, Wyoming, stated that the current environment "may warrant" a rate cut. After that statement, the financial markets went wild, stocks, bonds and precious metals all moved higher. Gold jumped $44 to a high of $3,379 before seeing light profit-taking. The U.S. Dollar reacted with a 1% decline. Gold closed on Friday at $3,372 per ounce, up $38 per ounce for the week.

After numerous meetings between Trump and world leaders on the Ukraine peace issue, it appears that there has been no progress and the war rages on. Of course, I’m against all wars, but these ongoing wars in Ukraine and Gaza only drive more safe-haven buying of Gold.

Last week, as the economic news was released, the volatility in precious metal prices increased. Gold traded last week from a low of $3,313 to a high of $3,383 per ounce and closed near the high of the week. It is clear that Gold is building a firm base for the next move to $3,400 and then $3,500 per ounce in September, especially after our Federal Reserve announces our first Fed Fund interest rate cut this year.

Key U.S. Economic data to watch this week:
The week of August 25th to August 29th, 2025
- Monday: July New Home Sales
- Tuesday: July Durable goods orders, August consumer confidence
- Thursday: August 23rd Initial jobless claims
- Friday: July Personal Income & Spending

Today: Gold has traded today between $3,358 and $3,377 per ounce as it builds a firm base above the key $3,350 per ounce support level. July new homes sales figures were released today, showing a 6% decline, the lowest since July of 2021. This number was expected and didn’t affect the financial markets.

Last week, Silver rallied sharply after Chairman Powell’s statement on the potential cut in Federal Reserve interest rates. Silver ended the week at $39.01 per ounce, up $1.08 for the week.

Silver reached a low of $36.90 last Wednesday and rallied sharply on fresh buying by Friday. Silver is clearly consolidating its 2025 gains and is building a great base for the next move towards the key $40 per ounce resistance level. The Silver-to-Gold ratio increased on Friday to 86.61-to-1.

Today: Silver sold off in early trading, reaching a low of $38.49 before finding buyers in London. Silver did briefly rally back above the key $39 per ounce level in London to $39.03 before the end of trading. In the U.S. Silver has been trading in the $38.70 to $38.90 range.

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