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 rise 76% this year.
A newly opened silver mint outside Dallas is turning raw materials into premium bullion as prices approach record levels, reflecting investors’ renewed appetite for tangible assets amid inflation and geopolitical tensions, according to FOX Business correspondent Lydia Hu.
Hu reported the details Tuesday in “Varney & Co.” and in a FOX Business segment from the Dallas-area Mint.
Silver has fallen to around $48 an ounce after climbing between $51 and $53 earlier in the week – slightly below records – but analysts and retailers say demand nationwide remains strong.
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At the Dallas facility, technicians melt incoming materials, remove impurities and quench the liquid metal in a large vat to create grains of pure silver. Robotic arms feed the grain into molds, then an oven heats it to about 1,200°C (about 2,190°F) to form bars — a start-to-finish process designed to speed up as orders increase.
Analysts at Bank of America say silver still has “room to rise,” but caution that near-term volatility remains likely. (Getty Images)
The process underscores strong investor demand for physical silver, with sales of bars and minted coins rising sharply this year, according to Hu’s report.
Safe-haven buying has accelerated as investors factor in global economic nervousness and concerns about the strength of the dollar. Bank of America analysts cited by Hu say silver still has “room to run,” but caution that near-term volatility remains likely.
Some analysts warn that high prices could slow retail demand if interest rates remain high. JP 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 of global demand momentum…will ultimately lead to further sustained declines in base metal prices.”
The Dallas Mint, operated by Dillon Gage – a Dallas-area precious metals company – 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 operates one of the most advanced trading and refining operations in North America, offering refining, minting and secure storage services. Dillon Gage is ISO 9001:2015 certified and recognized worldwide for its commitment to integrity and innovation in the precious metals market.
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As silver nears record highs and customers remain undeterred by rising prices, capacity is king. If the rally holds or extends, currencies like Texas will likely remain hot as investors continue to trade cash for cold, strong bars.
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