The overwhelming trend is to remove taxes and impediments surrounding gold and silver. However, states have recently imposed taxes on precious metals, including Washington and Maryland.
Chinese gold ETFs reported outflows of metal for the first time since August 2025 last month, but there still appears to be a strong appetite for physical gold.
When rate expectations shift, the dollar strengthens and investors rush for liquidity, silver can move violently, even if the underlying physical demand story has not disappeared.
It just goes to show that the media can spin (bad government) data however it wants. One can look at the raw job data and conclude that the economy is robust.
A good explanation of why fiat currency is the enemy of liberty and gold is the friend of liberty is provided in “Gold and Economic Freedom” written by none other than Alan Greenspan.
Metals Focus summarized the divergence between the two metals, asserting, “In effect, platinum investment has lost some momentum, while palladium has lost more conviction.”
While many investors remain focused on inflation, interest rates, and geopolitical tensions, Pento believes the biggest risks are structural—and they're only getting worse.
