Gold And Silver Back On A Bullish Track

GOLD

With a prolonged Iranian war and with a strong U.S. Dollar (over 100), Gold has found buyers and rallied over $100 today.

Since the start of March (The beginning of the Iran war), the value of Gold has dropped from $5,400 to a low of $4,100 per ounce. It was clear that a major central bank was selling; the only question was who? That question was answered this week: Turkey sold 58 metric tons of Gold, which was the primary cause of the decline in the Gold price.

The University of Michigan announced today that the final reading of its Consumer Sentiment survey for March was 53.3. The data was worse than expectations, as the consensus forecast of economists called for a reading of 54, and it was also below the preliminary reading of 55.5 and February’s final reading of 56.6.

At 11am PT today, Gold is trading at $4,495 per ounce, up $105 on excellent volume.

SILVER

Silver followed Gold higher this morning during London and U.S. trading. Year-ahead inflation expectations shot from 3.4% in February to 3.8% in March, the largest one-month increase since April 2025.

At 11am PT today, Silver is up $1.90, trading at $69.60 on average volume.