The precious metals market is heating up! Bullion banks are once again raising their price targets for gold and silver, reflecting the continued strength of these commodities. But that's not all that's happening in the world of finance. Let's dive into the latest developments.
Gold Hits New Highs, Banks Adjust
Gold is making headlines as it smashes through previous records. This surge has prompted bullion banks to revise their price forecasts upward. It seems they're playing catch-up with the market's momentum. One of the consistent themes from last year's historic gold & silver rally was how the bullion banks had to continually raise their price targets to keep up. And now as gold is setting new all-time record highs once more, those targets are going higher again.
UBS, for example, has released a year-end report expressing a bullish outlook on silver for 2025. This follows multiple price target upgrades for both gold and silver throughout 2024.
But what's driving this surge? Some analysts believe there's more to it than just tariffs.
Is There a Shortage of Deliverable Gold?
According to Dave Kranzler of Investment Research Dynamics, the stress in the gold market might be less about tariffs and more about a potential shortage of deliverable gold. The gold price just hit another all-time high, as questions continue to emerge about what’s really driving the market dysfunction.
This raises some interesting questions about the underlying dynamics of the market. Is the demand for physical gold outstripping supply? It's a situation worth keeping a close eye on.
A Cautionary Tale: App Store Spending Gone Wild
In a completely different, but equally concerning, story, one family experienced a financial shock when their eight-year-old daughter racked up over £8,500 in charges on the Apple App Store. They did not realise our HSBC debit card had been linked to her iPhone and she was sending money to YouTube channels.
The child, unaware that she was spending real money, sent funds to YouTube channels, who then befriended her on Roblox. The parent described this as "financial grooming."
HSBC reportedly failed to alert the family to the suspicious transactions, and Apple initially only refunded a small portion of the charges. This serves as a stark reminder to monitor your accounts and be aware of what your children are doing online. It highlights the importance of parental controls and financial education for young people.
From precious metals to app store spending, the world of finance continues to surprise and challenge us. Stay informed and stay vigilant!