Gold and silver, explained daily.
30 July 2026Gold is trading around £3,044 per ounce after the Federal Reserve left interest rates at 3.50 to 3.75 per cent, with three dissenting votes and talk of possible future rises limiting the upside.
28 July 2026Silver is trading near £43.50 per ounce as markets await the Federal Reserve's decision tomorrow, with uncertainty about interest rates offset by long-term industrial demand from data centres and renewable energy.
27 July 2026Gold has risen to around £3,041 per ounce this week as markets reconsider Federal Reserve rate policy. Middle East tensions support safe-haven demand, though higher bond yields remain a headwind.
26 July 2026Silver approached $60 per troy ounce this week, roughly £44.50, as industrial demand from AI data centres and renewable energy projects drives supply deficits. The Silver Institute projects a sixth consecutive annual shortfall of 46.3 million ounces.
24 July 2026Silver climbed 1.98% to $58.40 per troy ounce, roughly £43.40, as Middle East escalation drove oil past £100 a barrel. Trump threatened major military punishment after Houthi attacks on Saudi tankers in the Red Sea.
23 July 2026Silver retreated to around £44 per troy ounce on Thursday as traders locked in gains from a three-day geopolitical rally. Gold also pulled back, but silver's longer supply deficit story remains intact.
22 July 2026Gold is trading near £2,990 an ounce as firm safe haven demand meets high US bond yields, with the Federal Reserve widely expected to hold rates next week. Silver stays the livelier metal after a 4 percent jump.
21 July 2026Silver climbed nearly 5% on Tuesday to about $59 per ounce, roughly £44, as hopes of a pause in the US-Iran conflict eased inflation and rate-rise fears. Gold edged up to just under £3,000.
20 July 2026Silver rose about 1.5% on Monday to roughly £42 per troy ounce while gold slipped below £3,000, leaving the gold to silver ratio near 70:1. Forecasters still expect higher silver prices in 2026, though recent months show how volatile the metal can be.
19 July 2026Gold has fallen to about £2,950 per troy ounce, down some £270 from a month ago, as US military strikes on Iran pushed oil prices higher and revived fears of another Federal Reserve rate rise. The pattern surprises many first-time buyers: a geopolitical crisis has pressed the metal lower rather than higher.
18 July 2026Silver has pulled back to around £42 per ounce this month, down from £45.68 at the start of July, as solar panel manufacturers reduce the silver in each module. Despite the dip, analysts expect 2026 to mark a sixth consecutive annual supply deficit.
17 July 2026Gold is on course for its first weekly rise in about a month, holding near £3,020 an ounce, helped by softer US inflation, easing bets on a Fed rate rise and steady central bank buying.