In a year marked by seismic shifts in global politics and financial markets, the commodities sector has taken center stage, with gold, silver, and antimony commanding headlines and investor attention. October 2025 has seen record-breaking rallies in precious metals, fueled by escalating US-China trade tensions, geopolitical instability, and a renewed focus on strategic resources critical to national security. Meanwhile, antimony—once a niche industrial metal—has emerged as a linchpin in the race for supply chain resilience, spotlighting companies like NevGold and raising urgent questions about the future of resource security in a fragmenting world.
For decades, gold and silver have served as the ultimate safe havens during times of uncertainty. This October, their allure has never been stronger. According to Market Minute, gold prices soared to an unprecedented $4,378.69 per ounce on October 17, 2025, while silver notched a new record at $52 per ounce, marking a staggering 60% rally since April and surpassing levels not seen since 1980. The surge is no accident. It’s the direct result of a confluence of geopolitical storms: on October 9, China imposed strict new export controls on critical rare earth materials, production equipment, and lithium-ion batteries, along with sanctions targeting US subsidiaries of a South Korean shipbuilding firm and new port fees for American vessels. The next day, then-President Trump fired back, threatening “massive” and “additional 100%” tariffs on all Chinese goods, effective November 1. These tit-for-tat measures sent shockwaves through global markets, pushing investors out of equities and into precious metals.
Yet, by mid-October, a hint of de-escalation emerged. President Trump publicly admitted that a 100% tariff on China would not be “sustainable,” a comment that helped calm some nerves and led to a brief dip in gold prices. Still, the underlying anxieties remained. On October 20, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng agreed to hold a new round of high-level trade negotiations in Malaysia “as soon as possible,” according to Market Minute. But with ongoing restrictions on technology exports, unresolved intellectual property disputes, and strategic competition for critical resources, the truce feels fragile at best.
It’s not just the US-China standoff fueling the rush to gold and silver. The world is grappling with a cascade of risks: the protracted Russia-Ukraine war, the Israel-Hamas conflict, political turmoil in France and Japan, and a US government shutdown that’s injected even more uncertainty into the mix. Add to that recent revelations of loan irregularities linked to potential fraud in two US regional lenders, and it’s no wonder investors are seeking shelter. Central banks have responded by ramping up gold allocations, a move that supports prices and signals a broader trend toward de-dollarization. As Market Minute notes, this “tectonic shift” away from the US dollar is reshaping global reserve strategies and lending further structural support to precious metals.
Amid this backdrop, companies operating in the mining sector—especially those focused on gold and silver—are riding the wave. Giants like Barrick Gold and Newmont are enjoying windfalls as their primary products fetch record prices. For junior miners with promising deposits, the current climate presents an opportunity to attract capital and accelerate exploration. But the winners aren’t limited to precious metals alone. Antimony, a silvery, brittle metalloid long relegated to the shadows of industrial supply chains, is now squarely in the spotlight as a strategic asset.
According to the Investing News Network (INN), antimony’s traditional roles in flame retardants and semiconductors have been overshadowed by its critical importance to defense and energy sectors. The US Department of the Interior has designated antimony a critical mineral, essential to economic and national security and at high risk of supply disruption. The numbers are stark: China accounted for roughly 48% of global antimony mine production in 2022 and supplied about 63% of US antimony imports. In late 2024, Beijing tightened export controls on antimony, citing national security concerns—a move that set off alarm bells in Washington and underscored the West’s vulnerability.
The US imports more than 80% of its antimony, with China as its largest supplier. Outside China, production is limited to countries like Tajikistan, Russia, and Australia, leaving Western economies exposed to supply shocks. As a result, governments and investors are scrambling to secure alternative sources. By mid-2025, US antimony prices averaged between $55,000 and $60,000 per metric ton, while Chinese prices hovered near $40,000, buoyed by export restrictions and tight supply. Analysts expect these elevated prices to persist through the late 2020s unless significant new production comes online. The global antimony market, valued at $1.08 billion in 2024, is projected to swell to $1.78 billion by 2032, according to Fortune Business Insights cited by INN.
For those seeking exposure to this emerging market, NevGold stands out. Best known for its gold projects in Nevada and Idaho, the company made headlines in early 2025 with a significant discovery at its Limousine Butte project in Nevada. Initial drilling outlined over 1,000 meters of strike with thick, high-grade gold and antimony mineralization near the surface. Crucially, metallurgical testing indicates that antimony can be efficiently recovered alongside gold, opening the door to a dual-revenue operation. As INN points out, NevGold’s projects are situated in Nevada, a top-tier mining jurisdiction with robust infrastructure and regulatory clarity—exactly the kind of setting policymakers are eager to prioritize as they work to build domestic supply chains for critical minerals.
While NevGold remains fundamentally a gold company, its growing antimony footprint gives investors a unique opportunity to tap into both defensive value and growth potential. With one of the most advanced antimony projects in the United States, NevGold is strategically positioned to benefit from government initiatives aimed at building a vertically integrated domestic antimony supply chain.
Of course, not all companies are positioned to benefit from the current climate. Those heavily reliant on stable international trade—particularly technology firms, automakers, and consumer goods companies with complex supply chains—face considerable headwinds. Apple, for instance, depends heavily on Chinese manufacturing and consumers; tariffs and reduced demand could squeeze profitability. Semiconductor firms like NVIDIA and Qualcomm, caught in the crossfire of export restrictions, may struggle to access key markets or secure critical components. Even beyond direct trade impacts, broader economic uncertainty can dampen consumer spending and business investment, affecting a wide swath of industries.
Looking ahead, the trajectory of gold, silver, and antimony will hinge on the evolution of US-China relations and the broader geopolitical landscape. Any significant de-escalation could trigger short-term corrections as investors take profits. But with persistent inflation, robust central bank demand, and ongoing global risks, the underlying drivers of safe-haven demand seem unlikely to fade soon. For investors, the message is clear: in an era of fragmentation and uncertainty, tangible assets like precious metals and strategic minerals offer both a hedge and a pathway to growth.
The events of October 2025 have reinforced the enduring value of gold, silver, and now antimony as pillars of resilience in turbulent times. As the world navigates shifting alliances and a rapidly evolving economic order, these assets are likely to remain at the heart of both investor strategy and national policy.
