Nugget News August

30 Day Market Moves

Gold Outlook...With a September US interest rate cut on the table, gold prices could push aggressively higher, positively impacting gold. U.S. Treasury Secretary Scott Bessent also believes the Federal Reserve will cut interest rates by half a point at its September meeting.

Fueling more upside are geopolitical and economic uncertainties, growing central bank demand, and a weaker U.S. dollar. Plus, analysts at Fidelity say the safe haven metal could soar to $5,500 by the end of next year. Goldman Sachs and Bank of America are also calling for $5,500 gold by 2026.

-So far this year, the U.S. dollar has had its worst performance in 52 years relative to other major currencies.

Silver Outlook...The biggest hype since the internet this year is AI. Billions are being spent daily to try and incorporate AI into any business that can use it - Silver plays a big role in AI creation.

Silver is increasingly used in solar panels, electric vehicles, artificial intelligence hardware and defence applications. Demand climbed from 993 million ounces in 2016 to 1.16 billion ounces in 2024, while supply fell from 1.06 billion to 1.02 billion ounces. That switch has led to the fifth consecutive year of a structural deficit largely due to most silver being a mining byproduct, meaning supply is inelastic – it does not respond quickly to rising prices.

-Inflation fears, trade tensions, silver’s reputation as a store of value and its affordability compared to gold have also boosted its appeal.

Gold Tariffs?...“Gold will not be Tariffed!” Trump posted on social media. A White House official suggested last week the administration would issue a new policy clarifying whether gold bars would face import taxes, after US Customs and Border Protection stunned traders by deciding the imports would be subject to duties. The shock caused by a CBP ruling that certain bars would face import duties led futures on New York’s Comex to surge more than $100 above benchmark spot prices in London.

Washington’s policy has sweeping implications for the flow of bullion around the world, and potentially for the smooth functioning of the US futures contract. The administration had exempted the precious metal from duties back in April, and until there is long-term clarity, traders say, precious metals markets will remain on edge.

-The precious metal has climbed about 30% this year, as geopolitical and trade tensions rattled the market.

AI Predictions...With the rise in AI usage, we thought it made sense to ask CHatGPT what it thought of Gold & Silver prices going forward.
Summary Outlook:

Gold a positive setup: geopolitics, central bank buying, inflation concerns, and dovish Fed expectations all underpin continued upside for gold. A move above $4,700–$4,900 would reinforce technical momentum. Major targets lie between $5100–$5,500 over the coming 6–12 months.

Silver looks primed to test the mid-$50s and possibly move into the $60/oz range if gold continues rising and industrial demand remains strong. The setup is bullish for both safe-haven and industrial investors.

Portfolio Insight:

Many advisors recommend allocating 5–10% of portfolios to gold as a hedge. For silver, while more volatile, its critical role in industrial and green energy makes it a compelling growth-plus-hedge asset. For a balanced metals allocation, a 60/40 or 70/30 gold-silver weighting could be prudent.

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