Texas Precious Metals says gold, silver pullback offers buying opportunity

Investing.com -- Texas Precious Metals remains bullish on gold and silver despite recent price weakness, viewing the current pullback as an opportunity for investors to accumulate positions as strong central bank buying and growing retail demand continue to underpin the market, a company executive said.

The precious metals dealer expects the long-term uptrend to remain intact over the next two to three years, even after silver retreated sharply from earlier highs. The company said it was focused on long-term positioning rather than attempting to time price moves over the coming months.

Texas Precious Metals is ringing the closing bell at the Nasdaq this Friday. They are only the 10th ETF issuer to ring the Nasdaq bell this year.

Speaking in an interview with Investing.com, Chief Executive Tarek Saab said central bank purchases have been a key driver of the recent rally in precious metals and are likely to continue, while retail investor interest has also strengthened since the COVID-19 pandemic through increased exchange-traded fund (ETF) inflows.

The comments come as precious metals remain near historically elevated levels following a multi-year rally fueled by central bank purchases, geopolitical uncertainty and persistent investor demand for safe-haven assets. Market participants are closely watching whether official-sector buying and ETF inflows can continue to support prices after recent volatility across gold and silver markets.

Saab linked the surge in official-sector demand to geopolitical shifts following the removal of Russia from the SWIFT international payments system in 2022, saying the move prompted many central banks to increase gold holdings as part of broader reserve diversification efforts. He added that the buying was broad-based and not limited to China.

On the retail side, Saab said precious metals ownership in the United States remains low at roughly 0.5% to 1% of the population, significantly below levels seen in markets such as India and China, leaving room for further adoption over time.

The company is also expanding its ETF business with a focus on storing physical metal within the United States, saying about 85% of metal backing ETFs is currently held overseas, primarily in London. Saab said the firm's first two ETFs are intended to address demand for U.S.-domiciled storage and confirmed additional products are planned.

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