RESOLVING THE LEDGER
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Gold and silver spent much of the past year setting new milestones. Gold repeatedly reached new highs in 2025, eventually surging past $5,000 per ounce and peaking just under $5,600 per ounce on January 28.\u00a0Silver\u0027s rise was even greater, jumping from $40 per ounce on September 1 to $116 on January 28, a 190% gain, according to American Hartford Gold.But times have changed. The precious metals climate looks decidedly different now, as gold and silver prices have trended downward since reaching those January peaks. As of July 27, gold and silver were trading at $4,102 and $59, respectively.Have gold and silver prices fallen far enough to make now a good time to buy, or could prices still fall further? That\u0027s the question on many investors\u0027 minds now following these recent declines. We asked precious metals experts where they think gold and silver prices are headed in August. Below, we\u0027ll outline what they expect to see.Review your gold investing options before prices rise again here.What will happen to gold prices this August, according to expertsPerhaps unsurprisingly, where gold prices go in August may depend heavily on the conflict in Iran. "Should the fighting in the Middle East diminish in August, we at Midas expect the oil price to fall to pre-Operation Epic Fury levels, which should cause inflation to continue to moderate and U.S. interest rates and the U.S. dollar to drop," says Thomas Winmill, president and portfolio manager at Midas Funds, which invests in gold and silver mining companies. "In the environment, the gold price will likely resume its long-term upward trend to over $5,000 per ounce."James Anderson, senior precious metals analyst at SD Bullion, anticipates a price rebound later this year, but not in August. "We could see a broad range for the spot gold price this coming August pricing between $3,900 and $4,350 per ounce based on a combination of technical factors and pre-U.S. Labor Day positioning likely skewing for a bullish price rebound in Q4," Anderson says. If that projection plays out, the current gold price may represent an opportunity to buy low before prices rise late in the year.The Federal Reserve\u0027s July meeting could also affect where gold prices go in August. Gold doesn\u0027t earn interest like bonds and savings accounts do, so it tends to perform better when interest rates stay the same or fall. As of July 27, the odds of the Fed holding rates steady are set at 66.3%, according to the CME Group\u0027s FedWatch tool.Learn more about your affordable gold investing options here.What will happen to silver prices this August, according to expertsSilver\u0027s price often fluctuates more widely than gold\u0027s, and that could be the case in August. "The spot silver price is likely to mirror gold but more dramatically in both directions," Anderson says. "Technicals suggest an upside near $68 an ounce will likely be met with resistance whereas the low for the month could retest $55 an ounce with a brief spike below."Silver\u0027s floor may indeed be in the low $50s, says Matthew McKay, director of investments at Briaud Financial Advisors, which has held gold and silver for clients since the early 2000s, "but markets will decide that ultimately."\u00a0McKay expects gold and silver prices to stay about the same for a while instead of recovering quickly. "We may be in a range of price for both for a period of time," he says, adding that the period could last anywhere from a few months to a year.How can investors avoid overpaying for gold and silver?With prices moving significantly in both directions over the past year, how can you avoid overpaying for gold and silver right now? "Break up your purchases and dollar cost average your silver and gold buying over time," says Anderson. "Buy low-margin well-respected bullion product hallmarks. At the moment, government bullion coin premiums are reasonable, so look at American Eagle Coins, Canadian Maples and Royal Mint bullion products to name a few."The bottom lineExperts often recommend limiting precious metals to a small share of your portfolio to add diversification without exposing too much of your money to their price swings. Briaud has held as much as 20% of client portfolios in gold and silver and still holds close to 10% today. "We are bullish overall and don\u0027t believe the move upward in both is over," McKay says.Whether you buy physical bars and coins, ETFs or a gold IRA, consider limiting your allocation. "Somewhere between 5% and 20% can make sense," McKay says. "Anything less than 5% and the diversification benefit is immaterial in our view." Before you buy, consider the full cost of the investment, including storage and any account fees, and make sure the purchase aligns with your goals and your overall financial plan.
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