FOX Business’ Lydia Hu joins ‘Varney & Co.’ to show how everyday silver is melted, purified and turned into $5,000 investment bars as silver prices surge 76% this year.
A newly opened silver mint outside Dallas is turning raw material into investment-grade bars as prices approach record highs, reflecting renewed investor appetite for tangible assets amid inflation and geopolitical tensions, according to FOX Business correspondent Lydia Hu.
Hu reported the details Tuesday on “Varney & Co.” and in a FOX Business segment from the Dallas-area mint.
Silver eased to about $48 an ounce after spiking between $51 and $53 earlier in the week — slightly below record highs — but analysts and retail dealers say nationwide demand remains strong.
GOLD AND SILVER SURGE TO RECORD HIGHS, EXPERT PREDICTS ‘HUGE SHORT-COVERING RALLY’
At the Dallas facility, technicians melt incoming material, remove impurities and quench the liquid metal in a large vat to create pure silver grain. Robotic arms feed the grain into molds, then an oven heats it to about 1,200°C (roughly 2,190°F) to form bars — a start-to-finish process built for speed as orders surge.
Bank of America analysts say silver still has “room to run” but warn near-term volatility remains likely. (Getty Images)
The process underscores strong investor demand for physical silver, with sales of minted bars and coins rising sharply this year, according to Hu’s reporting.
Safe-haven buying has accelerated as investors weigh global economic jitters and concerns about the dollar’s strength. Bank of America analysts, cited by Hu, say silver still has “room to run” but warn near-term volatility remains likely.
Some analysts caution that high prices could slow retail demand if interest rates stay elevated. J.P. Morgan’s metals team, in a May 1, 2025 note, lowered its demand forecasts for aluminum, steel and copper, warning that “the increasingly apparent loss in global demand momentum … will eventually drive further sustained falls in base-metals prices.”
The Dallas mint, operated by Dillon Gage — a Dallas-area precious-metals firm — produced a limited run of custom bars for the FOX family of brands during Hu’s visit.
Founded in 1976, Dillon Gage has been a cornerstone of the precious-metals industry for nearly 50 years. Headquartered in Dallas, the company runs one of North America’s most advanced trading and refining operations, offering refining, minting and secure storage. Dillon Gage is ISO 9001:2015 certified and recognized worldwide for its commitment to integrity and innovation in the bullion marketplace.
WHY TEXAS IS NOW AMERICA’S FINANCIAL POWERHOUSE
With silver hovering near record levels and customers undeterred by higher prices, capacity is king. If the rally holds or extends, mints like this one in Texas are likely to stay red-hot as investors keep trading cash for cold, solid bars.
