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Daily brief · Monday, August 11, 2025

Gold and silver slide as tariff confusion fades and traders wait on U.S. inflation data

Gold and silver finished lower as markets digested President Trump’s statements that imported gold bars will not face tariffs, while attention shifted back to upcoming U.S. inflation data. Several outlets described the day as dominated by policy headlines and “wait-and-see” positioning ahead of the inflation report.

AI summaryWritten automatically with AI from 29 linked reports and our own price data, Oct 21, 2:04 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 August 11, 2025

Gold $3,356.40 −1.11% 30d +0.1% Silver $37.76 −1.40% 30d +0.7% Platinum $1,322.00 −0.45% 30d −3.4% Palladium $1,145.00 +0.44% 30d −2.6%

Tone of the reports: Mixed

What happened

  1. Gold prices fell as traders balanced two forces: lingering uncertainty about U.S. tariff treatment for gold bars earlier in the session and a later message from President Trump clarifying gold imports will not be tariffed, with markets also focused on forthcoming U.S. inflation data.

    SourcesReuters: Gold falls as markets await inflation data, Trump clarifies no tariffs on ...2: Gold falls as markets await clarification on tariffs, inflation data3: Gold weakens as markets await clarity on bullion tariffsBloomberg: Watch US Gold Futures Fall as Traders Await Tariff Clarification ...Kitco News: President Trump announces on social media that gold won’t be tariffedEarlier news service: Donald Trump says gold imports will not face US tariffs

  2. Some coverage framed the move as risk sentiment improving ahead of the inflation data, which reduced demand for defensive assets like gold.

    SourcesFXStreet: Gold under pressure as risk sentiment improves ahead of us ...

  3. Kitco reported both gold and silver were “sharply down” during the period of U.S. gold-tariff uncertainty, highlighting how policy headlines drove intraday volatility.

    SourcesKitco News: Gold, silver sharply down amid U.S. gold tariff uncertainty

  4. Reuters reported Barrick Mining beat quarterly profit estimates, citing higher bullion prices boosting results, adding to the narrative that miners have benefited from elevated gold prices even as spot prices dipped on the day.

    SourcesReuters: Barrick Mining beats quarterly profit estimates on bullion price surge

  5. Kitco relayed Heraeus research saying global gold demand rose 10% year over year in Q2, and noted that during the tariff scare gold futures traded above spot, underscoring how disruptions can show up in the futures market.

    SourcesKitco News: Global gold demand up 10% Y/Y in Q2, futures shoot above spot during tariff scare, silver miners increase production in Q2 – Heraeus

  6. Bloomberg reported that some ultra-wealthy investors in Asia are increasing involvement in a long-running physical gold trade, attracted by potential yield and price gains.

    SourcesBloomberg: Ultra Wealthy Are Piling Into a Centuries-Old Gold Trade in Asia ...

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

  • UpcomingU.S. inflation dataReuters, Bloomberg, FXStreet and other outlets said traders were waiting on the inflation report/data, which can shift interest-rate expectations and influence gold demand.

Metal by metal

Gold $3,356.40 −1.11%

Reuters and Bloomberg both described gold’s pullback as driven by tariff-policy headlines and positioning ahead of U.S. inflation data, with Trump later stating imported gold bars will not face tariffs. Kitco, citing Heraeus, pointed to stronger Q2 demand year over year and noted futures dislocations during the tariff scare.

Gold headlines

Silver $37.76 −1.40%

Kitco said silver fell alongside gold as tariff uncertainty rattled bullion, and Heraeus data cited by Kitco said silver miners increased production in Q2. Coverage was thinner than for gold, with most silver commentary tied to the gold-tariff headlines.

Silver headlines

Platinum $1,322.00 −0.45%

No report focused on platinum.

Platinum headlines

Palladium $1,145.00 +0.44%

No report focused on palladium.

Palladium headlines

The day’s reports

29 reports, most important first, New York time.

  1. 8:00 PM Earlier news service · 8:00 PM Donald Trump says gold imports will not face US tariffs Trump said gold imports will not face U.S. tariffs.
  2. 5:03 PM Kitco News · 5:03 PM President Trump announces on social media that gold won’t be tariffed Trump said on social media that gold will not be subject to tariffs.
  3. 2:22 PM Reuters · 2:22 PM▼ Reports a fall Gold falls as markets await inflation data, Trump clarifies no tariffs on ... Gold fell as investors awaited U.S. inflation data and after Trump said imported gold bars will not face tariffs.
  4. 1:05 PM Reuters · 1:05 PM▼ Reports a fall Gold falls as markets await clarification on tariffs, inflation data Gold fell as markets waited for tariff clarification and inflation data.
  5. 11:50 AM Kitco News · 11:50 AM▼ Reports a fall Gold, silver sharply down amid U.S. gold tariff uncertainty Gold and silver fell sharply amid uncertainty over U.S. gold tariffs.
  6. 11:06 AM Kitco News · 11:06 AM Global gold demand up 10% Y/Y in Q2, futures shoot above spot during tariff scare, silver miners increase production in Q2 – Heraeus Global gold demand rose 10% year over year in Q2, futures moved above spot during a tariff scare, and silver miners increased production.
  7. 10:03 AM Kitco News · 10:03 AM▲ Reports a rise Barrick earnings beat on strong gold, copper output, higher prices Barrick earnings beat on strong gold and copper output and higher prices.
  8. 8:56 AM Reuters · 8:56 AM▼ Reports a fall Gold weakens as markets await clarity on bullion tariffs Gold weakened as markets awaited clarity on bullion tariffs.
  9. 8:50 AM Reuters · 8:50 AM▲ Reports a rise Barrick Mining beats quarterly profit estimates on bullion price surge Barrick Mining beat quarterly profit estimates as higher bullion prices boosted results.
  10. 8:06 AM Yahoo Finance · 8:06 AM▲ Reports a rise Gold price today, Monday, August 11: Gold remains above $3,400 ahead of inflation report Gold rose above $3,400 as traders awaited the U.S. inflation report.
  11. 6:12 AM Bloomberg · 6:12 AM▼ Reports a fall Watch US Gold Futures Fall as Traders Await Tariff Clarification ... Gold futures fell in New York as traders waited for White House tariff clarification.
  12. 8:00 PM Bloomberg · 8:00 PM▲ Reports a rise Ultra Wealthy Are Piling Into a Centuries-Old Gold Trade in Asia ... Bloomberg says wealthy investors are piling into an old gold trade in Asia for yield and price gains.
  13. 8:00 PM Bloomberg · 8:00 PM US Gold Futures Steady as Traders Await Clarification on Tariffs ... U.S. gold futures were steady as traders waited for clarification on tariffs.
  14. 8:00 PM Investing.com · 8:00 PM Earnings call transcript: Barrick Gold Q2 2025 sees record EPS ... Barrick Gold reported record second-quarter earnings and strong performance from Nevada Gold Mines.
  15. 5:20 PM Kitco News · 5:20 PM Franco-Nevada posts record Q2 earnings but faces cash flow pressure Franco-Nevada reported record second-quarter earnings but said cash flow is under pressure.
  16. 12:43 PM MINING.COM · 12:43 PM Barricks seeks $3.5B financing for Pakistan copper mine - MINING ... Barrick is seeking $3.5 billion in financing for a Pakistan copper mine.
  17. 12:40 PM Kitco News · 12:40 PM▲ Reports a rise Bloomberg’s McGlone says gold still has a path to $4,000 even as prices unwind from tariff uncertainty Bloomberg's McGlone said gold could still reach $4,000 even as prices unwind from tariff uncertainty.
  18. 8:54 AM Reuters · 8:54 AM Gold Council awaiting U.S. clarity on gold bar tariffs, Barrick CEO says The Gold Council is waiting for U.S. clarity on gold bar tariffs, Barrick's CEO says.
  19. 8:21 AM Kitco News · 8:21 AM▼ Reports a fall Gold price sharply down on U.S. tariff uncertainty Kitco News says gold dropped sharply on U.S. tariff uncertainty.
  20. 6:29 AM Benzinga · 6:29 AM High Gold Prices Fail To Drive New Exploration, Research Shows - VanEck Gold Miners ETF (ARCA:GDX), VanEck Junior Gold Miners ETF (ARCA:GDXJ) Benzinga says high gold prices have not led to new exploration, with few major deposits added since 2020.
  21. 4:57 AM FXStreet · 4:57 AM▼ Reports a fall Gold under pressure as risk sentiment improves ahead of us ... Gold is under pressure as risk appetite improves ahead of key U.S. inflation data.
  22. 2:01 AM themarketherald.com.au · 2:01 AM WIN Metals makes ‘transformational’ near-term gold acquisition WIN Metals says it made a transformational near-term gold acquisition by buying the Radio Gold Mine.
  23. 8:00 PM Investing.com · 8:00 PM Earnings call transcript: Franco-Nevada Q2 2025 sees earnings ... Franco-Nevada’s second-quarter earnings transcript said gold prices remained strong.
  24. 8:00 PM Investing.com · 8:00 PM Wheaton Precious Metals stock price target raised by CFRA on ... CFRA raised its price target on Wheaton Precious Metals and kept a Buy rating.
  25. 1:24 PM FXStreet · 1:24 PM▼ Reports a fall Gold Price Forecast: XAU/USD gains bearish traction below $3,350 FXStreet said gold is losing momentum below $3,350.
  26. 9:26 AM BusinessLine · 9:26 AM Gold & Silver Merchants demand GST cut to 1% for gold ornaments Kerala gold and silver merchants are seeking a GST cut on gold ornaments as prices and tax burdens rise.
  27. 7:59 AM Kitco News · 7:59 AM Gold market analysis for August 11 - key intra-day price entry levels for active traders Kitco News published intraday gold market analysis with key entry levels for active traders.
  28. 4:02 AM Investing.com · 4:02 AM Gold: Exhaustion Phase Could Deepen as Tariff Truce Nears Resolution Investing.com says gold could deepen its exhaustion phase as the tariff truce nears resolution.
  29. 3:41 AM Investing.com · 3:41 AM Will Bitcoin and Gold Reach New Records? Investing.com asks whether Bitcoin and gold will reach new records.

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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