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Daily brief · Monday, July 21, 2025

Gold closes at $3,386.20 as weaker dollar and yields lift bullion; PGMs slip

Gold and silver finished higher as several outlets tied the move to a softer U.S. dollar and lower bond yields, with trade and tariffs still in focus. Platinum and palladium ended down on the day even as supply headlines (notably from Nornickel) stayed supportive for palladium longer term.

AI summaryWritten automatically with AI from 22 linked reports and our own price data, Oct 21, 2:00 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

Closing prices for July 21, 2025

Gold $3,386.20 +0.93% 30d +0.5% Silver $38.47 +0.52% 30d +6.5% Platinum $1,454.00 −1.36% 30d +15.0% Palladium $1,272.00 −1.93% 30d +21.7%

Tone of the reports: Mixed

What happened

  1. Reuters reported gold hit a five-week high as the dollar and U.S. yields eased, with trade developments still a key driver for sentiment.

    SourcesReuters: Gold hits five-week high as dollar, yields ease; spotlight on trade

  2. Kitco said gold and silver rallied as the U.S. dollar index slumped and bond yields declined.

    SourcesKitco News: Gold, silver rally sharply as USDX slumps, bond yields decline

  3. Bloomberg reported gold steadied as Federal Reserve officials expressed mixed views on tariffs, inflation and interest rates.

    SourcesBloomberg: Gold (XAUUSD) Steadies as Fed Officials Express Mixed Views on ...

  4. Reuters reported Chicago Fed President Goolsbee said new tariff announcements may delay rate cuts, reinforcing tariff-linked uncertainty around the policy outlook.

    SourcesReuters: Fed's Goolsbee: new tariff announcements may delay rate cuts

  5. Heraeus said physical gold demand is weakening, silver jewelry demand is dropping, and South African platinum supply is recovering.

    SourcesKitco News: Physical gold demand wanes, silver jewelry demand drops, South African platinum supply recovers – Heraeus

  6. Reuters reported Nornickel cut its 2025 nickel and palladium output forecast due to repairs, a supply-side factor for palladium.

    SourcesReuters: Nornickel cuts 2025 nickel and palladium output forecast due to repairs

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

Metal by metal

Gold $3,386.20 +0.93%

Reuters and Kitco tied gold’s strength to a weaker dollar and lower yields, while Bloomberg framed the backdrop as mixed Fed messaging on tariffs, inflation and rates. Heraeus added a softer note on the physical side, saying physical gold demand is weakening.

Gold headlines

Silver $38.47 +0.52%

Kitco attributed silver’s rise to a weaker dollar and lower yields. Heraeus said silver jewelry demand is dropping, and the Royal Mint said record price rises are driving increased interest in silver products.

Silver headlines

Platinum $1,454.00 −1.36%

Heraeus said South African platinum supply is recovering, which can ease supply tightness. The Royal Mint also said record price rises are driving increased interest in platinum products, while Investing.com argued platinum has turned into a buy amid a gold-led inflation rally.

Platinum headlines

Palladium $1,272.00 −1.93%

Reuters reported Nornickel cut its 2025 palladium output forecast due to repairs, highlighting a potential supply constraint; otherwise, palladium-specific market color was limited in today’s reports.

Palladium headlines

The day’s reports

35 reports, most important first, New York time.

  1. 8:00 PM Earlier news service · 8:00 PM PERTH MINT : Australian Bullion Sales Mixed in June and First Half Perth Mint says Australian bullion sales were mixed in June and across the first half of the year.
  2. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise Gold Rises on EU Sanctions, US Tariff Concerns Gold rose on EU sanctions and U.S. tariff concerns.
  3. 4:02 PM Reuters · 4:02 PM Nornickel cuts 2025 nickel and palladium output forecast due to repairs Nornickel cut its 2025 nickel and palladium output forecast because of repairs.
  4. 2:57 PM Kitco News · 2:57 PM▲ Reports a rise Record price rises drive unprecedented interest in gold, silver and platinum - British Royal Mint The British Royal Mint says record price rises are driving unprecedented interest in gold, silver and platinum.
  5. 2:18 PM Reuters · 2:18 PM▲ Reports a rise Gold hits five-week high as dollar, yields ease; spotlight on trade Gold hit a five-week high as the dollar and yields eased and trade stayed in focus.
  6. 12:24 PM MINING.COM · 12:24 PM▲ Reports a rise Gold price climbs to $3,400 with tariffs, rate cut in focus Gold climbed to $3,400 as tariffs and the prospect of rate cuts stayed in focus.
  7. 11:45 AM Kitco News · 11:45 AM▲ Reports a rise Gold, silver rally sharply as USDX slumps, bond yields decline Gold and silver rallied sharply as the dollar index slumped and bond yields declined.
  8. 9:53 AM Reuters · 9:53 AM Fed's Goolsbee: new tariff announcements may delay rate cuts Goolsbee says new tariff announcements could delay Federal Reserve rate cuts.
  9. 9:19 AM Reuters · 9:19 AM US Treasury's Bessent says Federal Reserve needs to be examined as an institution Bessent says the Federal Reserve should be examined as an institution.
  10. 9:02 AM Reuters · 9:02 AM▲ Reports a rise Gold rises on weaker US dollar as investors await trade developments Gold rises as the U.S. dollar weakens and investors wait for trade developments.
  11. 8:00 PM Earlier news service · 8:00 PM RUSSIA Nearly Doubles Precious Metals Exports to China in 2025 Russia nearly doubled its precious metals exports to China in 2025.
  12. 8:00 PM Earlier news service · 8:00 PM AUSTRAC deems PERTH MINT free from enforceable undertaking AUSTRAC said Perth Mint is free from an enforceable undertaking.
  13. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall Gold gives up five-week high on profit-taking Gold gave up a five-week high as traders took profits.
  14. 8:00 PM Earlier news service · 8:00 PM How wealthy investors bet on gold, from buying fractions of a bar to stashing bu.. The article looks at how wealthy investors are betting on gold through bars and smaller holdings.
  15. 8:00 PM Earlier news service · 8:00 PM WORLD GOLD COUNCIL : Weekly Markets Monitor: Strengthening the Core The World Gold Council released its weekly markets monitor on strengthening the core.
  16. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall Gold Pulls Back After Sharp Rally As Tariff And Fed Uncertainty Lingers Gold pulled back after a sharp rally as tariff and Fed uncertainty continued.
  17. 8:00 PM Earlier news service · 8:00 PM REFINING : Sibanye-Stillwater buys US precious metals recycler Metallix Sibanye-Stillwater bought U.S. precious metals recycler Metallix.
  18. 8:00 PM Earlier news service · 8:00 PM ASIAN gold demand pares as tariff concerns wane; Shanghai gold premium rebounds .. Asian gold demand eased as tariff worries faded, while the Shanghai gold premium recovered.
  19. 2:33 PM Kitco News · 2:33 PM Long gold/short dollar is not going away any time soon - NDR’s Tim Hayes Tim Hayes says the long gold, short dollar trade is likely to remain in place for now.
  20. 11:42 AM Kitco News · 11:42 AM Physical gold demand wanes, silver jewelry demand drops, South African platinum supply recovers – Heraeus Heraeus says physical gold demand is weakening, silver jewelry demand is dropping, and South African platinum supply is recovering.
  21. 8:21 AM Kitco News · 8:21 AM▲ Reports a rise Gold, silver see price gains amid dips in USDX, bond yields Gold and silver posted price gains as the U.S. dollar index and bond yields dipped.
  22. 7:53 AM Yahoo Finance · 7:53 AM▲ Reports a rise Gold price today, Monday, July 21: Gold hits new high for the month Gold futures opened slightly higher and hit a new high for the month.
  23. 7:53 AM Yahoo Finance · 7:53 AM▲ Reports a rise Gold price today, Tuesday, July 22, 2025: Gold opens above $3,400 Gold futures opened above $3,400 for the first time since June 16.
  24. 8:00 PM Earlier news service · 8:00 PM MATRIXDOCK Joins Singapore Bullion Market Association to Advance Gold Tokenisati.. Matrixdock joined the Singapore Bullion Market Association to advance gold tokenisation.
  25. 8:00 PM Earlier news service · 8:00 PM PERTH MINT : Why the metal deserves a long-term place in diversified portfolios Perth Mint argues the metal deserves a long-term role in diversified portfolios.
  26. 8:00 PM Earlier news service · 8:00 PM STANDARD CHARTERED : Speculative demand for gold is overcrowded, but this is not.. Standard Chartered said speculative demand for gold is overcrowded.
  27. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise SOCIETE GENERALE : Gold eyes breakout above $3375 Societe Generale said gold is eyeing a breakout above $3,375.
  28. 8:00 PM Earlier news service · 8:00 PM BAKER STEEL : Silver and platinum group metals - Time to shine? Baker Steel asks whether silver and platinum group metals are about to shine.
  29. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise CHARTS : Gold Regains Momentum—Bulls Back In The Game A charts piece says gold is regaining momentum and bulls are back in the game.
  30. 2:42 PM Kitco News · 2:42 PM Gold price faces a crossroad this week, and there’s no guarantee the break will be to the upside – City Index’s Scutt Scutt says gold faces a turning point this week and the next move may not be higher.
  31. 12:15 PM GuruFocus · 12:15 PM Alamos Gold (AGI) Receives Higher Price Target from Stifel Analyst | AGI Stock News GuruFocus reports Stifel raised its price target on Alamos Gold while keeping a Buy rating.
  32. 10:30 AM GuruFocus · 10:30 AM Lion One Reports Preliminary Gold Results, Announces C$16.3M in Quarterly Revenue | LOMLF Stock News GuruFocus says Lion One reported preliminary gold results and C$16.3 million in quarterly revenue.
  33. 10:10 AM GuruFocus · 10:10 AM▲ Reports a rise New Gold Inc (NGD) and the Rising Gold Market: A Strategic Overview | NGD stock news GuruFocus highlights New Gold as gold prices surge above $3,300.
  34. 8:05 AM Kitco News · 8:05 AM Gold market analysis for July 21 - key intra-day price entry levels for active traders Kitco News posts intraday gold market analysis with key price entry levels for active traders.
  35. 4:02 AM ForexLive · 4:02 AM Gold Futures Analysis Today with tradeCompass by investingLive ForexLive posts a gold technical analysis with key levels, trade plans and profit targets for intraday traders.

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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