Precious metals: what’s driving gold and silver’s latest moves?

Gold and silver are back in the headlines. In the latest episode of our “This is Deutsche Bank” podcast, Michael Hsueh and Robert Abel talk to host Michael Steen about what has been driving recent price moves, who is buying the metals and what could come next. They also explore the workings of the centuries-old precious metals market.

Why are precious metals back in the spotlight?

Precious metals are back in focus as investors look for ways to preserve value during uncertain periods. Gold prices have climbed to a series of record highs, and silver has seen strong gains followed by sharp swings. These developments stem from a range of factors, from economic uncertainty and continued central-bank buying all the way to seasonal effects linked to regional and religious festivals.

Gold: what’s driving the recent price surge?

Gold’s recent strength is driven by more than headlines or geopolitics. As it is priced in US dollars, gold tends to benefit when confidence in the dollar weakens, for instance when concerns around inflation grow or when high government spending raises doubts about fiscal stability. What else is driving demand? Michael Hsueh, a Senior Analyst in our Research department, explains.

Silver: the wild child of the precious metals?

Silver has moved even more sharply than gold, with its price rising more than 150% over the last year. Imbalances in supply and demand have partially driven that, but are there other factors at play?

How can clients navigate this environment?

Robert Abel from our Metals Sales & Structuring team explains how Deutsche Bank’s presence in multiple markets around the world means it can offer a range of solutions to corporate and institutional clients looking to protect themselves from price shifts.