Gold is steady, but silver has blasted to a new record high above $62/oz, just as the US Federal Reserve is expected to cut interest rates.

Welcome back to GoldBank Insider, where we turn precious metals headlines into clear, practical insights for everyday investors.

Gold first:

• Spot gold is almost unchanged, sitting just above $4,200/oz, and futures are only fractionally higher. The market is basically holding its breath ahead of the Fed’s rate decision later today.
• Traders already expect a 25 bps rate cut, so the real focus is on the tone: does the Fed signal a gentle, gradual easing cycle, or hint that this might be a one-and-done move?

Lower rates usually support gold because:

1. The opportunity cost of holding a non-yielding asset falls.
2. A softer dollar tends to push metal prices up.
3. A rate cut can be seen as a sign of economic worry, which boosts safe-haven demand.

Now, the main headline: silver.

Silver has surged to a fresh record above $62/oz, more than doubling in price in 2025.

It’s being driven by a powerful mix of:

• Speculative flows – fast money piling into the breakout.
• Safe-haven appeal – “poor man’s gold” for investors priced out of gold.
• Supply fears – repeated deficits and its new “critical mineral” status in the US, with heavy use in electronics and clean-energy tech.

This move isn’t happening in isolation. Other metals like platinum and copper are firmer too, helped by a weaker dollar and the same rate-cut narrative – but silver is absolutely the star of the show.

What this means for you

If you’re a UK investor or GoldBank client, a few key takeaways:

• Don’t chase blindly. A 100%+ move in under a year can unwind fast. Position sizing and time horizon matter more than FOMO.
• Gold stays your core hedge. Silver may move faster, but gold is still the anchor against monetary and geopolitical risk.
• Watch the gold–silver ratio. Silver’s outperformance suggests things are stretched; either silver cools… or gold has room to catch up.
• Remember GBP pricing. Your real cost is spot price plus FX plus dealer premium. When volatility spikes, spreads usually widen.

As always, this episode is for information only and not personal financial advice. Do your own research, and if you’re unsure, speak to a regulated adviser.

That’s it for today’s GoldBank Insider.

We’ll be watching the Fed statement and the next moves in silver very closely.

If you found this useful, share it with someone who’s been asking whether they’ve “missed” the move in precious metals.

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