Bullion Market Update – August 15, 2025

Precious Metals Prices 

Gold spot price had another week of consolidation as it traded Monday morning ~$3,376/oz and is trading Friday at ~$3,344/oz. 

Silver price opened Monday at $37.81/oz and has increased slightly to $37.96/oz by intraday Friday. 

The platinum spot price stayed relatively flat this week. It began Monday around $1,338/oz and traded intraday Friday ~1,345.07/oz. 

Palladium began trading Monday around $1,135 and is trading intraday Friday around $1,124/oz. 

Market Update 

Global markets and geopolitical circles are closely watching the planned meeting Friday, August 15th between U.S. President Donald Trump and Russian President Vladimir Putin, set to take place in Anchorage, Alaska. The summit comes at a tense moment in the Ukraine conflict, with both leaders expected to discuss the possibility of a ceasefire, sanctions relief, and broader U.S.–Russia relations. While the Kremlin has stated that no formal agreements are anticipated, the meeting could set the tone for renewed dialogue on nuclear security and economic engagement. Analysts note that any progress will depend on balancing U.S. strategic interests with the concerns of European allies, particularly Ukraine, whose leadership has urged that any negotiations avoid undermining its sovereignty. The gathering is being closely monitored by global markets, which often react to shifts in geopolitical stability, especially those involving major energy producers and military powers. 

In monetary policy developments, expectations for a Federal Reserve interest-rate cut in September have increased significantly following this week’s inflation data. Softer-than-expected consumer price index readings earlier in the week pushed U.S. Treasury yields lower and boosted equity indices, with the S&P 500 and Nasdaq nearing record highs. Treasury Secretary Scott Bessent has publicly called for a substantial 50-basis-point cut, suggesting that a series of reductions could be warranted to support economic growth. However, several Federal Reserve officials, in public remarks following the inflation release, have stopped short of endorsing immediate action. This divergence underscores the Fed’s ongoing balancing act between stimulating the economy and preventing inflation from reaccelerating. Market participants are now weighing whether the central bank will proceed with a larger-than-typical rate cut or opt for a more gradual approach, especially as other data points show signs of underlying price pressures. 

Those pressures were reinforced Thursday by the release of July’s Producer Price Index, which showed a 0.9% month-over-month increase, well above the consensus estimate of 0.2%, marking the largest gain since mid-2022. On a year-over-year basis, PPI rose 3.3%, with core PPI, excluding food and energy, up 2.8%. The report highlighted notable increases in wholesale prices for services, metals, food, and intermediate goods, with some economists attributing part of the rise to recently implemented tariffs. The unexpected jump in producer prices complicates the outlook for monetary policy, as it may indicate that inflationary pressures are not fully contained despite easing in consumer-level measures. Financial markets reacted with caution, with equity futures pulling back and Treasury yields ticking higher after the release, reflecting concerns that aggressive rate cuts could be harder to justify in the face of persistent cost pressures. 

Taken together, these developments highlight the interplay between geopolitics, economic policy, and market sentiment. The outcome of the Trump–Putin meeting could have implications for energy prices, global trade flows, and geopolitical risk premiums, while the Fed’s decision-making process will remain sensitive to incoming data such as the PPI. Investors face an environment where diplomatic breakthroughs, central bank actions, and inflation trends are all capable of driving significant shifts in asset prices over a short period.