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Daily brief · Thursday, July 31, 2025

Gold slipped below $3,300 as rates stayed high; silver and platinum sank on broader metals weakness

Gold ended slightly lower at $3,298.85 an ounce (-0.16%), with several reports pointing to firm U.S. data and a Fed that is not rushing to cut rates. Silver ($36.22, -4.48%) and platinum ($1,306.00, -5.98%) had the sharpest drops, with some coverage tying weakness to a broader industrial-metals downdraft.

AI summaryWritten automatically with AI from 24 linked reports and our own price data, Oct 21, 2:02 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 31, 2025

Gold $3,298.85 −0.16% 30d −1.5% Silver $36.22 −4.48% 30d −0.8% Platinum $1,306.00 −5.98% 30d −3.9% Palladium $1,217.00 −3.11% 30d +8.2%

Tone of the reports: Mixed

What happened

  1. The World Gold Council (WGC) said global gold demand rose 3% in Q2, driven by stronger investment demand.

    SourcesEarlier news service: WGC : Global gold demand up 3% in second quarter as investment jumps2: Global gold demand up 3% in second quarter as investment jumps, WGC says

  2. Multiple WGC write-ups highlighted a rebound in investment buying, including strong ETF inflows and higher bar-and-coin demand, even as high prices weighed on parts of consumer demand.

    SourcesKitco News: Retail Gold Rush: Investment demand roars back amid global uncertainty - WGC Q2 Demand TrendsForbes: Q2 Gold Demand Rose On Strong ETF Inflows, Says World Gold Council

  3. WGC commentary also flagged India’s gold demand potentially sliding to a five-year low in 2025 as record prices hurt jewelry sales.

    SourcesThe Economic Times: India's gold demand to hit 5-year low as record prices dent jewellery sales: World Gold CouncilEarlier news service: India's gold demand to hit 5-year low as record prices dent jewellery sales, WGC says

  4. Reuters reported the Fed’s reluctance to cut rates is forcing markets to rethink the rate outlook, a backdrop that can pressure non-yielding assets like gold when rates stay higher for longer.

    SourcesReuters: Fed's reticence on rate cuts forces market to rethink outlook

  5. Kitco said gold and silver fell after stronger U.S. GDP data, with prices hitting three-week lows ahead of the upcoming FOMC backdrop mentioned in its coverage.

    SourcesKitco News: Gold, silver down after stronger U.S. GDP; FOMC on deck | Kitco News

  6. Some coverage pointed to policy and macro uncertainty as support for gold: Kitco cited tariff uncertainty ahead of an August 1 deadline, while a Reuters poll said gold is expected to stay above $3,000 on safe-haven demand.

    SourcesKitco News: Safe-haven gold gains on tariff uncertainty ahead of August 1 ...Earlier news service: Gold price to stay above $3,000/oz as flight to safety endures: Reuters poll

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

What to watch

  • August 1Tariff deadlineKitco said tariff uncertainty ahead of the deadline was influencing safe-haven demand in gold.

Metal by metal

Gold $3,298.85 −0.16%

WGC’s Q2 reports emphasized a pickup in investment demand (ETFs and bar/coin buying) even as high prices cooled some jewelry demand, especially in India. Separately, Reuters and Kitco coverage leaned on the push-pull between safe-haven interest (including tariff uncertainty) and the headwind from a Fed that is not signaling imminent rate cuts.

Gold headlines

Silver $36.22 −4.48%

Kitco described silver as sharply down, and another report framed the move in the context of tariff uncertainty and a broader risk/macro backdrop. India-focused stories also noted silver plunging locally alongside currency moves.

Silver headlines

Platinum $1,306.00 −5.98%

No report focused on platinum.

Platinum headlines

Palladium $1,217.00 −3.11%

No report focused on palladium.

Palladium headlines

The day’s reports

40 reports, most important first, New York time.

  1. 8:00 PM Earlier news service · 8:00 PM Gold price to stay above $3,000/oz as flight to safety endures: Reuters poll A Reuters poll says gold is likely to stay above $3,000 an ounce as safe-haven demand continues.
  2. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall India's gold demand to hit 5-year low as record prices dent jewellery sales, WGC says The World Gold Council says India's gold demand could fall to a five-year low as record prices hurt jewelry sales.
  3. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise Global gold demand up 3% in second quarter as investment jumps, WGC says The World Gold Council says global gold demand rose 3% in the second quarter as investment buying increased.
  4. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise SPROTT : Silver price could spike further, with potential ‘squeeze’ scenario Sprott says silver prices could rise further in a possible squeeze scenario.
  5. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall CENTRAL BANK gold buying slows after record rally cools demand Central-bank gold buying has slowed as the record rally cools demand.
  6. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall Gold set for third weekly loss amid stronger dollar, reduced Fed rate cut hopes Gold is set for a third weekly loss as the dollar strengthens and Fed rate-cut hopes fade.
  7. 1:00 PM Kitco News · 1:00 PM▲ Reports a rise Retail Gold Rush: Investment demand roars back amid global uncertainty - WGC Q2 Demand Trends Kitco reports the World Gold Council's second-quarter data show investment demand for gold rebounding.
  8. 10:29 AM Reuters · 10:29 AM Fed's reticence on rate cuts forces market to rethink outlook Reuters says the Fed's reluctance to cut rates is forcing markets to rethink the outlook.
  9. 9:02 AM Reuters · 9:02 AM Trump again slams Fed chair Powell after rates hold Trump criticized Fed Chair Powell again after the central bank kept interest rates unchanged.
  10. 4:48 AM Forbes · 4:48 AM▲ Reports a rise Q2 Gold Demand Rose On Strong ETF Inflows, Says World Gold Council The World Gold Council says second-quarter gold investment demand rose sharply on strong ETF inflows and higher bar and coin buying.
  11. 2:03 AM The Economic Times · 2:03 AM▼ Reports a fall India's gold demand to hit 5-year low as record prices dent jewellery sales: World Gold Council The World Gold Council says India's gold demand may hit a five-year low in 2025 as record prices hurt jewellery sales.
  12. 8:00 PM Kitco News · 8:00 PM▲ Reports a rise Safe-haven gold gains on tariff uncertainty ahead of August 1 ... Gold gains on tariff uncertainty ahead of the August 1 deadline.
  13. 8:00 PM Investing.com · 8:00 PM Gold: Broader Uptrend Faces Pressure as US Dollar Recovery ... Investing.com says gold's broader uptrend faces pressure as the U.S. dollar recovers.
  14. 8:00 PM Kitco News · 8:00 PM▼ Reports a fall Gold weaker, silver sharply down; copper at least partly to blame ... Gold is slightly lower and silver is sharply down in midday U.S. trading.
  15. 8:00 PM Earlier news service · 8:00 PM The FED Just Blinked — And Gold Won’t Wait to Move A commentary says the Fed has blinked and gold may be ready to move.
  16. 8:00 PM Earlier news service · 8:00 PM GOLD : Mixed Signals Ahead of NFP, A Return Above $3300/oz or Further Downside A.. The article discusses mixed signals for gold ahead of the NFP report and whether prices return above $3,300 an ounce.
  17. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall CHINESE Investors Sell Off Massive Amounts of Gold, Pivot Into This Asset Class .. Chinese investors are reportedly selling large amounts of gold and moving into another asset class.
  18. 8:00 PM Earlier news service · 8:00 PM HSBC : Gold bars are the favourite choice, whether in physical form or tokenized HSBC says gold bars are the favorite choice in physical and tokenized form.
  19. 5:00 PM Reuters · 5:00 PM Zimbabwe on track for 6% growth as economy recovers from ... Reuters reports Zimbabwe is on track for 6% growth and reaffirms support for its gold-backed currency unit.
  20. 11:02 AM Kitco News · 11:02 AM Canada’s largest gold producer delivers strong Q2 results with record earnings Canada's largest gold producer reported strong second-quarter results and record earnings.
  21. 9:25 AM Reuters · 9:25 AM US Treasury chief says he expects Fed chair announcement by year's end The U.S. Treasury chief said he expects an announcement on the next Fed chair by year-end.
  22. 9:05 AM Reuters · 9:05 AM▲ Reports a rise Dollar's surprise rebound stymies anti-Trump trades Reuters says the dollar's surprise rebound is undermining trades that had bet against Trump-era policies.
  23. 8:55 AM Reuters · 8:55 AM▲ Reports a rise Dollar set for first monthly gain of 2025; yen choppy after BOJ The dollar was set for its first monthly gain of 2025 as the yen stayed choppy after the BOJ decision.
  24. 8:30 AM Kitco News · 8:30 AM▲ Reports a rise Gold back above $3,300 but sees little reaction to muted US PCE inflation data Gold moved back above $3,300 but barely reacted to muted U.S. PCE inflation data.
  25. 2:49 AM BusinessLine · 2:49 AM▲ Reports a rise India’s gold jewellery demand tops China in H1 India's gold jewellery demand surpassed China's in the first half of the year as gold prices climbed sharply.
  26. 8:00 PM Yahoo Finance · 8:00 PM Democrats post chart of record-high US grocery prices in swipe at ... A Yahoo Finance piece says investors often turn to gold to help protect against inflation.
  27. 8:00 PM Earlier news service · 8:00 PM LSEG : How Does an Early Monsoon Affect Rural India Gold Consumption? LSEG examines how an early monsoon affects rural India’s gold consumption.
  28. 8:00 PM Earlier news service · 8:00 PM AUSTRIAN MINT : Issue 118 The Story of the World Famous Münze Österreich The Austrian Mint presents a story about Münze Österreich.
  29. 8:00 PM Earlier news service · 8:00 PM LBMA : Alchemist 118: Echoes of the ’80s, the Story of Münze Österreich, and muc.. LBMA's Alchemist issue features Münze Österreich and related bullion-industry stories.
  30. 8:00 PM Earlier news service · 8:00 PM LBMA FORECASTS : Unearthing the Wisdom in the Crowd LBMA publishes forecasts on gold using crowd wisdom.
  31. 8:00 PM Earlier news service · 8:00 PM WISDOMTREE Gold Outlook to Q2 2026 - Loading the spring WisdomTree publishes its gold outlook through the second quarter of 2026.
  32. 8:00 PM Earlier news service · 8:00 PM APMEX Celebrates 25 Years of Excellence in Precious Metals APMEX celebrates 25 years in the precious-metals business.
  33. 8:00 PM Earlier news service · 8:00 PM HSBC : Echoes of the ’80s? Gold Prices and Inflation Then and Now HSBC compares 1980s inflation with today in a gold-focused outlook.
  34. 2:36 PM Investing.com · 2:36 PM What Copper’s Collapse Means for Gold, Silver, and Mining Stocks An Investing.com analysis says copper’s collapse could affect gold, silver and mining stocks.
  35. 12:53 PM FXStreet · 12:53 PM▼ Reports a fall Gold Price Forecast: XAU/USD resumes its slide below $3,300 FXStreet says gold is sliding below $3,300 in a bearish price forecast.
  36. 11:28 AM kingworldnews.com · 11:28 AM▲ Reports a rise $15,000 GOLD: Gold, Silver & Miners Set To Crush US Stock Market Performance, Including Tech The article argues gold, silver and mining stocks could outperform U.S. equities and even targets gold at $15,000.
  37. 10:45 AM Bloomberg · 10:45 AM▼ Reports a fall Gold Falls Rs 500 Per 10 Grams; Silver Plunges Rs 2,000 On Rupee Appreciation Gold fell Rs 500 per 10 grams and silver plunged Rs 2,000 in India as rupee appreciation capped prices.
  38. 9:33 AM The Economic Times · 9:33 AM▼ Reports a fall Gold drops by Rs 603; silver corrects too, outlook remains positive ahead Gold fell Rs 603 per 10 grams and silver also corrected after the Fed held rates steady.
  39. 8:17 AM Kitco News · 8:17 AM▲ Reports a rise Gold price slightly up as mild bargain buying featured Gold inched higher as bargain buying supported prices.
  40. 7:56 AM Kitco News · 7:56 AM Gold market analysis for July 31 - key intra-day price entry levels for active traders Kitco published gold market analysis with key intraday price entry levels for active 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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