This silver ETF has climbed over 110% in 2025 but could go much higher.Silver keeps climbing.The price of the precious metal has surged in recent weeks, hitting an all-time high of $64.66 per ounce on Dec. 12, 2025. Silver has now logged nearly 113% gains in 2025, as of this writing.It's a prime opportunity for investors to capture the momentum, and one of the best ways to invest in silver right now is by owning physical silver without actually owning it. Why is the price of silver going up?Silver is shatte ...

SEOUL, REPUBLIC OF KOREA: Gold bars are displayed at Shinhan Bank in Seoul on 09 January 2004. Gold prices hit 544.60 dollars per ounce on January 09, 2006, the highest level since January 1981, owing to geopolitical tensions in the Middle East and reports that China may increase its reserves of the metal. "Geopolitical tensions continue to provide reasons to be positive on gold, with deteriorating situations in both Iran and Iraq, while the possibility of Israels Prime Minister Ariel Sharon not returning ...

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Core Insights - Gold has experienced its strongest rally since the 1970s, significantly impacting retail sales in the UK, particularly in gold purchases [3][4][8] - Retail sales in Britain rose by 0.5% in September, surpassing market expectations of 0.2%, marking the best month for retailers since July 2022 [1][2] Group 1: Gold Market Dynamics - The price of gold has increased by 50% so far this year and has doubled since the end of 2023 [6] - Central banks, particularly in China and Russia, have been increasing their gold reserves, contributing to the rising demand [8] - The Royal Mint reported a surge in demand for gold and silver coins, with customers spending four times as much as in October of the previous year [8][9] Group 2: Investor Behavior - Investors are turning to gold as a safe-haven asset amid geopolitical tensions and concerns about a potential bubble in AI stocks [4] - The anticipation of a possible increase in capital gains tax in the upcoming Budget may be driving more Britons to invest in gold [5] - The Royal Mint experienced its strongest single day of e-commerce trading on record, indicating heightened investor appetite for precious metals [10] Group 3: Retail Sales Impact - Strong demand for gold jewelry contributed to the overall increase in retail sales, alongside sales in computers and telecommunications [11]

Core Insights - Barrick Mining Corporation and Newmont Corporation are two leading gold mining companies with extensive global operations and diversified portfolios, making them relevant for investors amid rising gold prices driven by economic uncertainties [1][11]. Gold Market Overview - Gold prices have surged to unprecedented levels this year, reaching over $4,000 per ton, primarily due to safe-haven demand amid global trade tensions, geopolitical issues, a weak dollar, and increased central bank purchases [2][3]. - The Federal Reserve's interest rate cuts and concerns over the labor market and U.S.-China trade tensions have further fueled this rally, with gold prices increasing approximately 56% year-to-date [3]. Barrick Mining Corporation - Barrick is advancing key growth projects, including Goldrush and the Lumwana Super Pit expansion, which are expected to significantly enhance production [5][7]. - The Goldrush mine aims for 400,000 ounces of annual production by 2028, while the Reko Diq project in Pakistan is projected to produce 460,000 tons of copper and 520,000 ounces of gold annually starting in 2028 [6]. - Barrick's liquidity position is strong, with cash and cash equivalents around $4.8 billion and operating cash flows of approximately $1.3 billion in Q2 2025, reflecting a 15% year-over-year increase [8]. - The company returned $1.2 billion to shareholders in 2024 and has a dividend yield of 1.7% with a sustainable payout ratio of 25% [9][10]. - However, Barrick faces challenges with rising costs, with cash costs per ounce of gold and all-in-sustaining costs increasing by approximately 17% and 12% year-over-year, respectively [12][13]. Newmont Corporation - Newmont is strategically investing in growth projects, including the Ahafo North expansion and the Cadia Panel Caves, which are expected to enhance production capacity [15]. - The Ahafo North project is anticipated to produce between 275,000 and 325,000 ounces of gold annually, with commercial production planned for late 2025 [16]. - The acquisition of Newcrest Mining has strengthened Newmont's portfolio, generating $500 million in annual run-rate synergies [17]. - Newmont has a robust liquidity position with $10.2 billion in total liquidity and $6.2 billion in cash and cash equivalents, alongside a free cash flow of $1.7 billion [20]. - The company has distributed around $2 billion to shareholders and has a dividend yield of 1.1% with a payout ratio of 20% [21]. Comparative Analysis - Year-to-date, Barrick's stock has risen by 103.2%, while Newmont's stock has increased by 131.9%, both underperforming compared to the Zacks Mining – Gold industry's growth of 136% [23]. - Newmont trades at a premium with a forward earnings multiple of 13.91, while Barrick trades at 12.57, representing a 23% discount to the industry average [25][26]. - Newmont's return on equity stands at 17.9%, significantly higher than Barrick's 8.2%, indicating more efficient use of shareholder funds [27]. - The consensus estimates for 2025 suggest Barrick's sales and EPS will grow by 19.4% and 65.1%, respectively, while Newmont's growth is projected at 11.3% and 60.1% [29][32]. Investment Outlook - Both companies are well-positioned to benefit from favorable gold prices, with strong project pipelines and financial health. However, Barrick's higher production costs and declining production outlook may pose risks, making Newmont a more favorable investment option at this time [33].

Core Insights - Gold experienced its largest one-day percentage decline in a dozen years, dropping as much as 6% to approximately $4,120 per troy ounce after reaching an all-time high of nearly $4,400 [1][8] - Silver also saw a significant drop, falling over 8% to a low of $48.40 per troy ounce [2] - Despite the recent decline, gold remains up more than 50% for the year, with silver up 68% [3][6] Market Context - The rally in precious metals has been driven by global trade tensions, inflation concerns, and economic uncertainty, exacerbated by the ongoing U.S. government shutdown and fears of unsustainable global government debt [2][4] - Citi Research indicated that a resolution to the government shutdown and a potential U.S.-China trade deal could lead to a consolidation of gold prices in the coming weeks, maintaining a price target of $4,000 for the next 0-3 months [4] Investor Sentiment - The sharp decline in gold prices may reflect profit-taking by investors following substantial gains in precious metals this year [6] - The upcoming inflation report from the Bureau of Labor Statistics, delayed due to the government shutdown, may also be influencing market sentiment and gold's appeal as a safe-haven asset [7]

Core Viewpoint - Gold remains a favored safe-haven asset as buyers quickly returned after a brief dip last week [1] Group 1 - The recent dip in gold prices was short-lived, indicating strong demand from investors [1] - Monday saw a significant resurgence in buying activity for gold, reinforcing its status as a safe-haven asset for the year [1]

Core Insights - Bitcoin has retreated from recent record highs, with a decline of approximately 7% since Monday, primarily due to renewed trade tensions between the U.S. and China [2][4] - The decline in Bitcoin prices has negatively impacted related stocks, including MicroStrategy (MSTR), Coinbase (COIN), and Circle (CRCL), all of which have dropped at least 5% in the past five days [3] - Bitcoin's year-to-date return of 14% is now comparable to the S&P 500, indicating a shift in investor sentiment [3] Market Dynamics - Trade tensions have diminished Bitcoin's appeal as a safe-haven asset, with gold gaining traction as an alternative investment, as noted by Yardeni Research [4] - Historical patterns show that Bitcoin often experiences substantial pullbacks after reaching new highs, suggesting that the current decline may not be unusual [5] - Experts are analyzing crypto-specific factors to forecast Bitcoin's price movements, with some remaining optimistic about a potential rebound [5] Technical Analysis - Ben Cowen highlights the importance of Bitcoin's 50-week moving average, currently around $100,000, as a critical support level [6][8] - Cowen anticipates another peak for Bitcoin in the latter part of the year, followed by a bear market in 2026 [6] - As long as Bitcoin remains above the 50-week moving average, there is a basis for optimism regarding its near-term performance [8]

Core Viewpoint - The recent surge in gold prices is driven by fundamental economic factors rather than mere speculation, indicating a strong market for precious metals [1][2]. Price Movement - Gold prices have increased by 65% in 2025, reaching a record high of approximately $4,242 per ounce due to economic uncertainty and depreciation of the dollar [2]. - Goldman Sachs forecasts that gold will rise to $4,900 by the end of 2026 [2]. Economic Context - Gold serves as a safe-haven asset during economic uncertainty, appealing to investors as a finite commodity with high value [3]. - The current market dynamics have led even traditionally skeptical figures, such as JPMorgan Chase CEO Jamie Dimon, to advocate for gold investment [4]. Historical Comparison - The current gold market situation is reminiscent of the 1970s, when gold prices surged from $35 in 1970 to $850 in 1980, a 2,300% increase, driven by economic instability and policy changes [5]. - Similar fiscal concerns and policy uncertainties today could lead to increased demand for gold as a store of value [6]. Market Dynamics - The gold market is relatively small compared to equities and Treasury markets, allowing for quicker price increases in response to demand [6]. - Legendary gold investor Pierre Lassonde suggests that the U.S. is just beginning a bull market cycle similar to that of the 1970s, with gold prices starting to rise significantly from around $161 in 1975 [7].

Core Insights - Bitcoin has experienced significant volatility in October, initially rising due to investor interest as a hedge against US government shutdown uncertainty, but subsequently dropping sharply following President Trump's tariff threats [1][4]. Market Performance - Bitcoin's price fell from $121,000 to as low as $104,000, marking an 8% decline in the past month, while gold reached new all-time highs above $4,200, increasing by 16% in the same period [1][2]. - As of Thursday, Bitcoin was trading around $108,000 per token, reflecting ongoing struggles to recover from recent losses [4]. Investor Behavior - Capital is currently favoring gold due to its momentum and lower volatility, with central banks acting as structural buyers, which may lead to a future rotation back into Bitcoin as it typically follows gold trends [3]. - A significant player in the market, referred to as a "whale," profited $192 million by shorting Bitcoin before the crash, indicating strategic trading behavior that may have intensified selling pressure [5]. Market Dynamics - The recent drop in Bitcoin's price was exacerbated by the crypto derivatives ecosystem, which saw over $19 billion in liquidations during the price decline, leading to automatic closures of risky trades [4]. - Analysts remain optimistic about Bitcoin's long-term prospects, with JPMorgan predicting a price target of $165,000 by year-end and Citi forecasting $133,000, potentially reaching $181,000 by the end of 2026 [6].