Why Gold and Silver Prices Are Soaring
Gold and silver surge to record highs in October 2025 as investors rush to safe-haven assets amid the U.S. government shutdown, global trade tensions, and accelerating BRICS de-dollarization. Gold topped $4,300 and silver hit $53, driven by Wall Street’s massive bullion buying and BRICS nations expanding gold-backed currency systems tied to the XRP Ledger. With a weaker dollar, expected Federal Reserve rate cuts, and growing demand for real assets, analysts see this gold and silver surge as part of a lasting shift in global finance—not just a temporary rally.
Monday - 10.13.25: Gold and silver prices soared to new records Monday, with December gold hitting $4,124.30 an ounce and silver reaching $50.56. Both metals climbed sharply as investors rushed to safe havens during the prolonged U.S. government shutdown and a historic short squeeze in silver. The squeeze has become so extreme that traders are flying silver bars from New York to London to profit from price gaps. Platinum and palladium are also rising amid spillover demand. Meanwhile, the political standoff in Washington deepened after President Trump’s layoff order, with Democrats refusing to end the shutdown without negotiations over health care costs and subsidies.
Tuesday - 10.14.25: Gold and silver prices ticked higher early Tuesday, with gold reaching a record $4,190.90 overnight and silver touching $52.49 before both pulled back—hinting that their rallies may be running out of steam. By midday, gold was at $4,151.80 and silver at $50.38. Global markets slipped after China sanctioned U.S. units of South Korea’s Hanwha Ocean, escalating the U.S.-China trade war and weighing on sentiment. Meanwhile, the ongoing U.S. government shutdown has traders focused on Fed Chair Jerome Powell’s upcoming speech, where he’s expected to confirm more rate cuts later this year.
Wednesday - 10.15.25: Gold prices hit a new record overnight at $4,235.80, with December futures trading around $4,210 by midday Wednesday. Silver also surged to $51.55 amid strong safe-haven demand as U.S.-China trade tensions and a government shutdown fuel uncertainty. A short squeeze in London, where silver supplies are tight, pushed prices even higher. Fed Chair Jerome Powell signaled another rate cut later this month, which supports metals, while JPMorgan’s Jamie Dimon—usually not a gold fan—admitted it’s “semi-rational” to own some in this environment.
Thursday - 10.16.25: Gold and silver prices hit new records overnight, with December gold reaching $4,263.40 an ounce and silver climbing to $52.89, fueled by safe-haven demand and technical buying. Global markets were mixed, while U.S. futures pointed higher. Trade tensions stayed in focus as Treasury Secretary Bessent hinted at extending tariff pauses if China eases its export controls on rare earths—prompting President Trump to declare, “You’re in one now,” when asked about a trade war. Meanwhile, Trump said India’s Prime Minister Modi agreed to stop buying Russian oil, a claim India hasn’t confirmed. The Fed’s latest Beige Book showed weak consumer spending and rising prices, with regional reports suggesting uneven economic momentum across the U.S.
Friday - 10.17.25: Gold hit a fresh record overnight ($4,392 for December futures) before easing to $4,321, while silver spiked to $53.77 then slipped to $52.43. Nerves are high to end the week: global stocks are down, U.S. indexes are set to open lower, and worries about regional banks—plus reported loan-fraud losses at Zions’ California Bank & Trust and Western Alliance—have investors flocking to gold. Bank shares have shed over $100B this week, adding to recent blowups (like Tricolor’s bankruptcy and First Brands’ collapse), and even JPMorgan’s Jamie Dimon warned more credit problems could surface. The dollar is having its worst week in two months as bond yields fall (the 10-year dipped below 4%), traders price in about 53 bps of Fed cuts by year-end, and Fed officials signal more easing. Separately, the IMF says renewed U.S.–China trade tensions could shave about 0.3 percentage points off global growth if tariffs and supply-chain hits escalate.
Wall Street Buys 1,300+ Tonnes of Gold Before BRICS Currency Launch
The big picture
Wall Street and global central banks have accelerated gold accumulation—over 1,300 tonnes since 2022—as BRICS moves toward a common currency targeted for 2026. The thesis: de-dollarization momentum (BRICS nations representing ~56% of world population and ~50% of global output) is shifting portfolio hedges toward hard assets, with gold surging above $4,000/oz in 2025.
Driving the news
The article links the gold bid to a “debasement trade,” not a classic crisis: investors hedging perceived dollar erosion as BRICS expands non-USD settlement and builds parallel financial rails. It frames BRICS’ currency push as less a new “unit” and more a settlement architecture independent of U.S. systems (informed by reserve freezes on Russia). Wall Street’s reaction: measured but decisive re-weighting into bullion, futures, miners, and some crypto.
By the numbers
- 1,300+ tonnes: Gold amassed by major institutions since 2022; EM central banks >1,000 t/yr since 2022.
- $4,043.30/oz: Gold futures peak cited; +52% in 2025.
- 50+ nations: Using yuan/rupee/ruble in oil/defense trade, per article.
- 70% → 58%: Dollar share of global reserves over two decades (decline cited).
- $700B: Three-year increase in BRICS intra-trade; ~50% of that trade now settled without USD, per article.
- ETFs: 2024 the first year since 2020 with stable gold ETF balances after three years of outflows.
Why it matters
If BRICS de-dollarization persists, U.S. financial primacy could erode at the margin, raising the appeal of reserve assets outside U.S. control (notably gold). Portfolio construction may tilt toward real assets and away from USD-centric duration risk. The piece argues the timing (pre-2026) is key as institutions reposition ahead of any currency-launch milestone.
What to watch
- BRICS currency build-out: Concrete steps toward a shared settlement system (infrastructure, governance, convertibility).
- Flows: Central-bank buying pace, ETF creations/redemptions, and miner outperformance.
- Non-USD trade share: Expansion of bilateral and commodity settlements outside USD.
- Crypto tie-in: Use of bitcoin as parallel settlement (the article cites El Salvador and Argentina as legal-tender examples) alongside gold.
Market impact and portfolio shifts
The article flags potential pressures on U.S. exporters exposed to BRICS demand (e.g., autos, devices, defense), while mega-cap tech platforms (Microsoft, Google, Amazon) appear resilient due to pricing power and diversified revenue. Domestic defensives (utilities, regional banks, healthcare) could benefit from rotation. Gold stands as primary beneficiary so far; miners have outperformed. Some investors also layer bitcoin as a “stateless” hedge.
The bottom line
Per the article’s view, Wall Street’s 1,300+ tonne gold grab signals a strategic hedge against a world where BRICS builds parallel settlement outside the dollar. With a 2026 target in sight, the piece argues the gold-buying trend is likely to persist as institutions prepare for a more multipolar monetary landscape.
Wall Street Joins BRICS Gold Bull Run, Sees $10,000 Price Ahead
The big picture
Spot gold hit a fresh record $4,078.05/oz as Wall Street piles into bullion alongside BRICS central banks. The article frames the rally as a devaluation hedge amid de-dollarization dynamics, with bold Street forecasts calling for $5,000 by 2026 and potentially $10,000 before 2030.
Driving the news
A sharp U.S. equity pullback, a softer dollar, rekindled U.S.–China trade tensions, and rising expectations of Fed rate cuts accelerated flows into gold. BRICS, meanwhile, is expanding reserves and building gold–oil–critical-minerals settlement rails (announced at the 2025 Moscow Financial Forum), reinforcing the non-USD reserve thesis. Sentiment tailwind: growing FOMO among traders despite gold’s non-yielding nature.
By the numbers
- $4,078.05/oz: New all-time high.
- +54% YTD: 2025 surge cited.
- $5,000 → $10,000: Yardeni’s path (by 2026, and potentially before 2030; article suggests as early as mid-2028 if momentum holds).
- >1,000 tonnes (2024): Additional central-bank purchases; gold now the #2 reserve asset, surpassing the euro (per article).
- ~12,500 tons: Combined BRICS gold reserves; China/Russia >2,300 tons each.
- 70% cobalt / 90% niobium: BRICS share of key minerals underpinning the new trading platform.
Why it matters
The piece argues that swelling BRICS reserves and Wall Street allocations signal a structural shift in reserve composition and portfolio hedging—away from exclusive USD reliance and toward hard-asset buffers against debt-driven inflation tolerance (“devaluation trades”).
What to watch
- Forecast markers: Price progress toward $5k (2026) and trajectories implying $10k before decade-end.
- Flow gauges: Central-bank buys, ETF creations/redemptions, and miner performance.
- Macro triggers: Dollar trend, Fed-cut expectations, and U.S.–China headlines.
- BRICS rails: Concrete uptake of the gold/oil/minerals settlement platform.
The bottom line
Per the article, the Wall Street + BRICS bid is turning the gold rally into a regime shift: as parallel settlement systems mature and policy risks persist, the Street’s $10,000 case gains credibility—keeping gold in the spotlight for strategic allocation.
BRICS Currency Backed by Gold and XRP Shows Impressive Progress
The big picture
A gold-backed BRICS currency using the XRP Ledger is moving from concept to reality. Member nations—Brazil, Russia, India, China, and South Africa—are actively building the infrastructure needed to settle cross-border trade outside the U.S. dollar system. Evidence from central bank documents and ongoing pilot programs shows that BRICS countries have been developing on the XRP Ledger for years.
Driving the news
Analysts at Black Swan Capitalist uncovered archived documents revealing that BRICS central banks and the New Development Bank are testing XRP Ledger (XRPL) features such as escrow and automation to facilitate international payments.
- Brazil’s central bank has published research naming Ripple in its distributed ledger tests, with private-sector firms already using XRPL for tokenization and financing.
- Russia’s State Duma confirmed ongoing efforts to integrate national digital currencies—including the digital yuan and digital rupee—into a shared transaction network.
- China and Russia are also expanding gold reserves as part of a strategy to underpin a new, multipolar financial order.
By the numbers
2020s: period when BRICS central banks began XRP-related pilots
2026: possible launch window for the gold-backed BRICS currency
2+ major nations (Russia, China): publicly expanding gold reserves for the project
5: BRICS member nations involved in coordinated XRPL development
Why it matters
The initiative marks a direct challenge to U.S. dollar dominance in global trade.
- Russia and China are building parallel systems to bypass Western sanctions and SWIFT restrictions.
- The XRP Ledger’s efficiency and escrow mechanisms offer a faster, cheaper, and transparent settlement system suited for large-scale institutional use.
- Gold-backing provides perceived stability while XRP acts as a digital bridge, combining physical and digital assets for global transactions.
What to watch
The release date and level of official integration remain uncertain.
- Analysts suggest pilot programs could mature into a functional system by 2026.
- India has expressed caution, emphasizing that it does not seek to replace the dollar but aims for greater global stability.
- Continued expansion of gold reserves in China and Russia may signal accelerating adoption.
- Full XRP Ledger integration across BRICS financial infrastructures would mark a historic shift toward a multipolar monetary system.
The bottom line
The BRICS gold-backed currency project is no longer theoretical. With infrastructure, testing, and policy support already underway, it represents the most coordinated challenge yet to the dollar-based financial order. As one Russian official put it, “Money will move within information systems bypassing banks—and no one abroad will be able to see these transactions.”
NEXT WEEK’S KEY EVENTS
Economic Calendar: October 20 – 24, 2025 (ET)
MONDAY, Oct 20
- 10:00 am — U.S. Leading Economic Indicators (Sept.)
TUESDAY, Oct 21
- None scheduled
WEDNESDAY, Oct 22
- None scheduled
THURSDAY, Oct 23
- 8:30 am — Initial Jobless Claims
- 10:00 am — Existing Home Sales
FRIDAY, Oct 24
- 8:30 am — Consumer Price Index (Sept.)
- 9:45 am — S&P Global Flash U.S. Services PMI (Oct.)
- 9:45 am — S&P Global Flash U.S. Manufacturing PMI (Oct.)
- 10:00 am — Consumer Sentiment (final)
IMPACT ON PRECIOUS METALS MARKETS
Leading Economic Indicators (Mon, 10:00 am ET)
- Rising LEI → signals forward momentum; risk-on tone, bearish for metals.
- Falling LEI → points to slower growth ahead; bullish for safe-haven metals.
Initial Jobless Claims (Thu, 8:30 am ET)
- Rising claims → labor softening; bullish for gold/silver.
- Falling claims → supports higher-for-longer rates; bearish for metals.
Existing Home Sales (Thu, 10:00 am ET)
- Strong sales → resilience despite rates; bearish for metals.
- Weak sales → housing drag and broader slowdown risk; bullish for metals.
Consumer Price Index (Fri, 8:30 am ET)
- Hot CPI → stronger inflation/rate path; real yields up, bearish for metals.
- Soft CPI → easing price pressure/rate-cut hopes; bullish for metals.
S&P Global Flash PMIs (Fri, 9:45 am ET)
- Above-50 & improving → expansion/growth optimism; bearish for metals.
- Below-50 or slipping → contraction risks; bullish for safe havens.
Consumer Sentiment (final) (Fri, 10:00 am ET)
- Higher sentiment → stronger spending outlook, yields/dollar support; bearish for metals.
- Lower sentiment → demand concerns, risk-off; bullish for gold/silver.
