3 Things to Watch for in Gold & Silver Markets Today

• The Indian government recently raised tariffs on gold and silver in response to a currency crisis, which could decrease Indian gold and silver demand.
• Coinbase’s introduction of new highly-leveraged gold and silver futures trading signals growing worldwide interest in precious metals and could influence gold and silver prices.
• Rising inflation rates and a potentially hawkish Fed could push people back into gold as recession fears grow.

Since hitting all-time highs in early 2026, gold and silver prices have retrenched somewhat, although they’re still higher than they were when the year began. And many analysts still expect both gold and silver prices to continue climbing this year.

But there are numerous recent events that could impact gold and silver prices, both positively and negatively. Many of them we’ve covered in recent articles, such as central bank gold demand, geopolitical risk, and rising economic uncertainty.

What we’ll focus on today are three very specific recent events that could lead to price movements in both gold and silver.

1. India’s Gold and Silver Tariffs

India is the world’s second largest consumer of gold and the second-largest consumer of silver. So events in India can make a significant impact on both demand for gold and silver and prices for gold and silver.

Due to recent weakening of the Indian rupee, the Indian government recently increased tariffs on gold and silver imports significantly, raising tariffs on gold imports to 15% and on silver imports to 6%.

The Indian government also stated that any imports of gold in excess of 100 kilograms (~3,215 ounces, or 8 Good Delivery bars), would require prior authorization, and that subsequent import approvals would only be granted when exports equivalent to 50% had taken place.

The reason for that is that when the rupee weakens, many Indians turn to gold and silver to help preserve their wealth in the face of a weakening currency. It’s a natural reaction, as gold has served as an inflation hedge for centuries.

The Indian government, however, is facing a currency crisis, as the war against Iran has caused crude oil prices to rise significantly, and crude oil is India’s largest import. That has led to an outflow of foreign exchange which has weakened the rupee, and people dumping the rupee for gold and silver isn’t making the situation any better.

The increase in tariffs has led to significant price swings within India, with gold prices at one point trading at a more than $200 discount to world gold prices. And some analysts expect that the tariffs could lead to a 20-25% decrease in gold and silver demand within India.

Because India is the world’s second-largest consumer of both gold and silver, if these tariffs remain in effect then it could significantly dent gold and silver demand from India.

If that reduced demand from India were not to be offset by increased demand elsewhere, it could keep gold and silver prices from rising as much as they otherwise might.

Of course, this also ties back to geopolitical risk, as the rupee crisis was spurred by the war against Iran. If that conflict were to come to a successful conclusion, and if oil prices were to come down, then India’s currency crisis could abate, which could lead the Indian government to bring those import tariffs down.

2. Gold and Silver Futures

Coinbase is probably best known as a cryptocurrency exchange, but it recently launched new gold and silver futures trading on its platform, one that allows people to trade with up to 25x leverage.

While this new trading platform isn’t available to traders inside the US right now, and it may not challenge existing futures trading on established commodities exchanges, it’s nonetheless an indicator of how much interest there is in gold and silver, and how many people want to take advantage of rising gold and silver prices.

If futures contracts become more easily available to more people, it could offer greater exposure to precious metals markets and impact gold and silver prices.

3. Federal Reserve Monetary Policy

The actions of the Federal Reserve’s monetary policy always have an impact on gold and silver prices, as they have on prices of numerous other products throughout the economy. But with inflation figures rising and new Fed Chairman Kevin Warsh expected to take a more hawkish approach towards monetary policy, things could look a little different at the Fed in the coming months.

Markets no longer seem to be as sure that the Fed will continue to cut interest rates. In fact, markets now expect the Fed to hike interest rates by early next year, a dramatic reversal from what had previously been expected.

Conventional thinking has often been that rate hikes are bad for gold and rate cuts are good. This is because, as interest rates rise, bond yields do as well, making bonds such as US Treasuries a more attractive safe haven option versus gold.

However, if these rate hikes end up worsening the job market and slowing the economy, that worsening could end up pushing people back into gold anyway.

There’s obviously a lot that could happen before the end of the year, so there’s no way to tell exactly where the Fed may end up by then, but keep your eyes on what the Fed does under Chairman Warsh to try to figure out how the Fed’s actions may end up impacting gold.

Is Now the Time to Buy Gold and Silver?

If you watched gold and silver rise in price from 2024 onward and were kicking yourself for missing the boat, now may be the time to jump back in. Gold and silver prices have pulled back from their all-time highs, and are waiting for the next big event to push them back over the hump.

With fear of recession growing in the US, a recession could be just what gold and silver need to push right back towards their record highs. And with analysts calling for gold to reach $6,000 and silver to reach $100, there could still be plenty of room for gold and silver to run.

Now is the time to start thinking about how gold and silver might fit into your financial planning, and whether now is the right time for you to buy gold and silver. If you’re looking to buy gold and silver, Goldco can help.

With over $3 billion in precious metals placements and over 8,000 5-star reviews, Goldco has helped thousands of Americans benefit from owning precious metals, and has become one of the best gold IRA companies in the country.

Don’t wait any longer to take advantage of gold and silver. Call Goldco today to help safeguard your savings with precious metals.