Dollar decline may boost gold prices — Heraeus

Gold prices have dipped slightly recently. However, a weaker US dollar could help push the yellow metal higher again. Meanwhile, silver prices are rising due to record demand for semiconductors, according to Heraeus analysts.

The US economic environment is far less supportive of dollar strength, as President Donald Trump’s import tariffs add to the risk of stagflation. Experts at Heraeus say that if the greenback weakens while demand for gold from investors and central banks remains high, prices should resume their rally after consolidation. However, if bullion falls below key support levels, further gains could be delayed until late this year.

Semiconductor sales could hit new record highs this year, boosting silver consumption significantly. Heraeus analysts believe this market growth will continue in 2026, which should drive silver prices up.