What is going on with gold and silver?

The prices of gold and silver are on rollercoaster rides; Gold has been rising over the last few years, silver shot up like a skyrocket in January … but then both plunged in price and sputtered around the end of the month. <br /><br />It raises the question: What is going on? <br /><br />Today on the show, we talk with some traders about what this volatility of gold and silver is saying about the state of the world. <br /><br /><strong>Related episodes: </strong><br /><br /><a href="https://www.npr.org/2025/10/01/nx-s1-5558443/why-is-everyone-buying-gold" target="_blank">Why is everyone buying gold?</a> <br /><br /><a href="https://www.npr.org/2025/03/21/1239865425/gold-germany-tariffs-trump-mergers-acquisitions" target="_blank">A new-ish gold rush and other indicators</a> <br /><br /><em>For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at </em><a href="http://plus.npr.org/" target="_blank"><em>plus.npr.org</em></a><em>. Fact-checking by </em><a href="https://www.npr.org/people/1268825622/sierra-juarez" target="_blank"><em>Sierra Juarez</em></a><em>. Music by </em><a href="https://dropelectric.bandcamp.com/" target="_blank"><em>Drop Electric</em></a><em>. Find us: </em><a href="https://www.tiktok.com/@planetmoney" target="_blank"><em>TikTok</em></a><em>, </em><a href="https://www.instagram.com/planetmoney/" target="_blank"><em>Instagram</em></a><em>, </em><a href="https://www.facebook.com/planetmoney" target="_blank"><em>Facebook</em></a><em>, </em><a href="https://www.npr.org/newsletter/money" target="_blank"><em>Newsletter</em></a><em>.  </em><br /><br />See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.<br /><br /><a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>