publication
2025-09-16 09:08
On Tuesday, gold was the most expensive in history, and dollar silver ratings were screwed 14-year-old Maks. The market is preparing for a reduction in interest rates in the federal reserve tomorrow, which increases the valuations of financial assets and weakens the dollar.
On September 16 in the morning for the ounce of gold as part of the most active series of time -term contracts, the New York stock exchange was paid USD 3,731.62. This is another record of all time performed by royal metal this year. Since the beginning of the year, gold has gained over 40% relative to the dollar and has a chance to “unscrew” the highest annual return on 46 years.
In September alone, the XAU/USD exchange rate went up by 6.6% after an increase by nearly 5% in August. The gold rally is also accompanied by the highest silver records in 14 years. On Tuesday morning, white metal was valued at $ 43.24 for the Trojan ounce. Such an expensive silver in dollar terms was not seen since spring 2011, when the speculative bubble at that time was bursting.
Investors have been almost terribly accumulating precious metals for a good few weeks in anticipation of resumption of a cycle of interest rate reductions in the United States. In the unanimous opinion of analysts on Wednesday, the FED is to reduce interest rates by at least 25 PB. and announce further foot cutting. By the end of the year, they are to drop by at least 75 PB. – results from the Fedwatch Tool calculations.
The problem is that the federal reserve intends to reduce interest rates in conditions of growing inflation, reaching in August about 3% (depending on the measure adopted it is a little more or slightly less than 3%). This means the risk that real interest rates in the US will be practically reset in the next quarters. It would be a very significant change in monetary policy parameters, the rewarding “hard” assets at the expense of bonds bringing constant income. Gold usually copes well surrounded by low or decreasing real feet in the USA.
Of course, for a significant part of this year's precious metal rally, the weakening of the dollar, in which they are valued. In this context, gold is not so much more expensive as the dollar dramatically loses its value relative to “hard” money. But we see the same on the currency pair of golden-gold. The “stock market” price of royal metal has exceeded PLN 13,300 and is the highest in history. Only this year gold increased by almost 23%. Or if you prefer – the Polish gold lost 18.6% of its purchasing power in relation to gold.
Silver ratings on the Polish currency are also record -high. The ounce of white metal “walks” now after over PLN 154 and is 29% more expensive than it was at the beginning of 2025. It's just that for an ounce silver bullion coin at the national dealer we will pay over PLN 200. This is the effect of introducing a 23 % VAT rate for investment silver. As a result of this change, investing in physical silver through sellers from European Union countries basically lost its raison d'etat.
