Metal War Begins: Gold and Silver Prices Surge

Global Competition for Metal Resources

The prices of gold and silver have increased, with gold rising to $4,362 per ounce and silver surging 8% after its largest daily drop since 2021 ¹

. This trend is expected to continue, driven by central banks' purchases and the global competition for metal resources. The metal war has begun, with countries securing their metal supplies, starting with gold, which has risen 68% this year.

Impact of Central Banks' Purchases

Central banks' purchases have played a significant role in driving up gold prices. The trend of countries securing their metal supplies is expected to continue, with the United States including silver and copper in its list of critical minerals, which are vital for the country's economy and national security ¹

.

Growing Demand for Metal Resources

The growing demand for metal resources is driven by the development of AI and the relocation of manufacturing to domestic markets (onshoring). The need for silver, in particular, is increasing due to its use in data centers, which are essential for maintaining a country's global position ¹

.