Bullion Market Update – August 29, 2025

Precious Metals Prices

Gold had a strong week as it now nears all-time highs. It opened Monday at $3,383.60 and is trading intraday Friday around $3,435.30

Silver also performed well as it neared the $40/oz mark on Thursday. It opened Monday $39.13 and is trading intraday Friday around $39.30.

The platinum price began trading Monday at $1,373.50 and is back close to that price on Friday as it trades around $1,372.80.

The palladium price had a mild decrease this week. It began Monday at $1,158.40 and is trading Friday around $1,129.10.

Market Update

This week’s financial scene remained firmly tethered to the latest developments in inflation. On Friday, the Commerce Department confirmed that overall consumer prices held steady at a modest annual pace, while core inflation, which excludes volatile food and energy components, crept higher to its most elevated level since February. Consumer spending surged, buoyed by durable goods purchases, and wages showed steady growth, underlining that the American consumer remains resilient even under pressure.

In response to the inflation data, sentiment in markets tilted toward expectations of a Federal Reserve rate cut in September, with futures pricing in a strong probability of such a move. Simultaneously, longstanding concerns about central bank independence were rekindled by the ongoing dispute between the President and Federal Reserve Governor Lisa Cook, including her legal effort to ward off removal.

Despite persistent uncertainties, U.S. equity markets defied caution. Major indices reached new all-time highs midweek, highlighted by a tech-led rally, even as Nvidia, a bellwether for AI-related growth, later dampened investor enthusiasm by reporting strong results but weaker-than-expected data-center chip sales. As August draws to a close, the market has overall mounted a solid rebound this year, and strategists are now eyeing value sectors, such as healthcare, industrials, financials, and regional banks, as ripe for rotation, given the waning dominance of tech giants.

Moving beyond U.S. shores, markets in the UK were rattled as bank shares fell sharply amid speculation about a potential windfall tax designed to offset losses from quantitative easing, though business confidence broadly climbed, thanks to stronger hiring and wage expectations. In India, equity benchmarks slipped yet again after Reliance Industries failed to impress investors at its annual meeting, and the introduction of steep new U.S. tariffs further dampened sentiment.

Looking ahead, attention turns to upcoming U.S. payroll data, expected to shape rate-cut expectations even further. Meanwhile, the global geopolitical calendar is heating up, with a Shanghai Cooperation Organization summit set to convene numerous world leaders, including high-profile meetings between China’s Xi Jinping and North Korea’s Kim Jong Un. Political turbulence looms in France amid a pending no-confidence vote, and in Brazil, a trial involving former President Bolsonaro adds to the geopolitical stew, all potentially rippling through markets.

Together, this week has underscored that while strong corporate earnings and resilient consumer demand support markets, inflation signals, central bank tensions, geopolitical risks, and trade frictions continue to shape the investor landscape in unpredictable ways.