With a rate of over $ 3600 (PLN 13,000 89) A record of the April from the April and It significantly exceeded the psychological threshold of $ 3,500. (PLN 12,000 725). Silver also went up significantly: its price per ounce exceeded $ 40. (PLN 145), reaching the highest level from 2011.
The factor causing the increase in prices are the expectations that the Federal Reserve System (FED) – the American central bank – may also reduce interest rates in September. Precious metals gain attractiveness in the environment of falling interest rates, because they do not bring current income themselves.
However, even during periods of high profits – e.g. over four percent For ten -year US tax bonds – gold has repeatedly achieved a record level this year. This suggests that the dynamics of the course cannot be explained only with the perspectives of the shaping of interest rates.
– These factors can certainly be considered as likely catalysts of dynamic change of gold price, both individually and in their mutual strengthening – says in an interview with “Die Welt” Robert Vitye, the founder and general director of the Solit Group, dealing with precious metal trade and the protection of assets.
Vitye perceives growing debt as a decisive growth factor. – Although few investors are aware of this, gold has been from the beginning of the 21st century. The most profitable asset class. The bull market for 25 years on the gold market, which began with the crack of the speculative bubble of new economics, remains intact – he explains.
There is no fundamental solution to the problem of global debt, and the problems are more and more accumulated for the future. – As it was often in history, you try to pay off debts with a currency devalued by monetary inflation. And all this at the expense of saving, employees and pensioners who have to struggle with the consequences of blurring the currency value – says Vityye.
Additional uncertainty causes Public conflict between US President Donald Trump and the head of the Federal Reserve Jerome Powell. Trump announced that he intends to remove the Federal Reserve Council [nominowaną przez Joego Bidena] Lisa Cook due to the alleged mortgage. A lawyer Cook claims that this is a political maneuver because it critically refers to interest rate reduction. Such a legal dispute can seriously undermine confidence in the independence of the Fed.
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President of the Federal Reserve Jerome Powell during a press conference, Washington, July 30, 2025.
At the same time, the burden is huge refinancing needs: in the short term Washington must re -issue tax bonds worth nine dollars. (32 trillion PLN 721 billion). For Vitye it is therefore clear: – Jerome Powell's speech for a symposium in Jackson Hole has already prepared the ground. A significant reduction in interest rates is inevitableand the real interest rate will drop drastically – which will be the next impulse for gold.
If, despite the reduction of interest rates, the profitability of long -term bonds increases, for example due to the growing concerns about inflation and doubts as to the creditworthiness of the United States, the Fed may be forced to introduce the so -called Income curve control through mass purchases of bonds. “This is a catastrophic scenario for the external value of the American dollar,” warns Vityye.
Legal dispute of great importance
Also in legal terms, the Cook case is of great importance. – A lawsuit member of the Lisy Cook Council will probably be considered in the last instance by the Supreme Court in a few months. Trump's victory could then undermine the ID card made in the meantime by the Fed with the participation of Cook – says Vityye. This unprecedented event will further accelerate the escape to the “politically neutral primary currency, which is gold.”
Investors who want to invest in a “safe haven” have many different possibilities to choose from. The classic solution is Xetra-Gold (WKN A0S9GB), which is physically protected and extremely favorable. In addition, there are etc. such as EUWAX Gold II (EEC2LD), physically secured, and Wisdomtree Core Physisches Gold (A3gnfn), also physically secured.
Silver makes up for the losses
Gold, however, is not the only precious metal that is currently experiencing a renaissance. Silver also makes up for the losses. Since the beginning of the year, its price increased by 40 percent, while in the same period gold gained 32 percent. In the last four weeks, silver has increased by almost 10 percent, while gold only by 3.6 percent. Historically, this pattern corresponds to the typical course: In the second half of the bull market on the gold market, silver regularly exceeds changes in gold prices.
Continuation of the material under the video
Undervaluing strengthens this dynamics. Currently, the ratio of gold price to silver is 94, while the long average is 67. According to the calculations of the German group Heraeus, an ounce of silver should cost around $ 52. (189 PLN) – a level that would be a new record of all time. – Therefore, there are many indications of the maintenance of above average silver results in a medium -term perspective, especially in the case of a historical one $ 50. (PLN 182) in the coming months – emphasizes Vityye.
Unlike gold Silver plays a double role: 58 percent The demand comes from industry, and a third of this from only photovoltaic applications. At the same time, the supply has not been enough to cover consumption for years. The Silver Institute predicts that 2025 will be the fifth year in a row in which the deficit will occur. Therefore, the United States Interior Department is considering placing silver on the list of critical raw materials.
According to Vitye This is a signal for investors: – Investors in precious metals should always take into account silver as part of their physical dispositions regarding precious metals due to fundamental arguments. Due to the greater variability, the share of silver in the wallet is a matter of readiness to take risks.
– Regular savings plans based on silver can be an investment tool adapted to the needs, which has been enjoying popularity among investors for years – says the expert. In the case of silver, they exist physically secured, such as Ishares Physical Silver (WKN A1KWPR), or ETFs associated with silver mines, for example Global X Silver Miners (WKN A3DC8R).
I’m Ashley Davis as an editor, I’m committed to upholding the highest standards of integrity and accuracy in every piece we publish. My work is driven by curiosity, a passion for truth, and a belief that journalism plays a crucial role in shaping public discourse. I strive to tell stories that not only inform but also inspire action and conversation.
