Yahoo Finance
If you fancy yourself a fan of gold or silver, you're feeling a bit more cheerful about the metal than this spring.
Gold has been rising all month, up some 14% since July 31 to about $4,380 per troy ounce at the Aug.
Silver is up nearly 20% to $69.50 an ounce.
Related: After the bubble: Why UBS is still a gold-and-silver fan Your cheer, however, has come after a lot of pain — more than six months, in fact.
Precious metals prices surged upward through 2025 until an abrupt halt at the end of January.
The peak came because futures exchanges tightened the rules for trading, something they will do if they believe trading has gotten out of hand.
The rule changes effectively meant the cash required to trade in the gold and silver markets went up substantially.
29, President Donald Trump nominated Kevin Warsh to be the new chairman of the Federal Reserve Board.
Gold and silver traders saw immediately that an inflation hawk would be in charge of running the Central Bank and might be more serious about cutting down domestic inflation,says former JP Morgan economist Anthony Chan, and started to unload their positions.
But then came start of the war in the Middle East and, with the war, sharply higher oil prices and, of course, sharply higher gasoline and diesel prices.
By the end of June, gold had tumbled about 28.5%.
Silver fell 58% from its $121.79 peak to its bottom in mid-July.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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