Gold & Silver Building A Bullish Base

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Last week, we saw a weaker U.S. Dollar (under 97, a 3-year low). That, combined with a disappointing U.S. Jobs report for June, is helping Gold move higher. A 33,000 drop in U.S. jobs for June, when it was expected to be a 100,000 gain, is just one of many recent signs showing a weaker U.S. economy. Gold rallied to $3,360 per ounce on sizeable volume before seeing some holiday weekend selling.

Gold closed last Thursday before the July 4th Holiday at $3,334 per ounce, up $54 for the week.

When Gold opened in trading in Asia over the long weekend, it rallied to $3,344 per ounce before seeing selling. Concerns about the many Trump tariffs and reports about the upcoming BRICS meeting scheduled to start this week, are driving continued Gold demand. However, I would expect to see Gold test the key $3,300 level and trade between $3,300 and $3,400 per ounce to build a firm base before moving past $3,500 per ounce.

Key Economic data to watch this week:
The week of July 7th to 11th, 2025
- Tuesday: Consumer price index
- Wednesday:June Wholesale Inventories
- Thursday: June Initial jobless claims update
- Friday: Monthly U.S. Federal Budget

Today: Gold reached a low of $3,304 in London trading before finding heavy demand for physical and futures contracts. Building a firm base above $3,300 is important for the next leg higher.

Silver became the leader in the precious metal index last week, up $1.05 per ounce and closing Thursday at $36.72 per ounce. Physical demand for many popular Silver investment coins and bars has shown a sizeable increase in China, India, and other Asian, European, and Middle Eastern countries. The Silver-to-Gold Ratio moved lower to 90.12-to-1.

Today: The Silver price started rallying over the long holiday weekend, moving to a high of $37.27 per ounce before seeing some short-term profit-taking. Silver sold off in London this morning reaching a low of $36.34 before rallying.

I’m proud to provide the July 2025 version of CoinStats free of charge for our clients. It has been updated with current prices and populations for regular and plus grades. CoinStats for July 2025 features six different series: $20 Gold Saint Gaudens, $20 Gold Liberties, $10 Gold Indians, Morgan & Peace Silver Dollars, and the Walking Liberty Half Dollar.

The CoinStats report provides a list of my recommended certified U.S. Gold and Silver coins which are found listed on the Best Value page. These are not the modern issue bullion coins or low-grade circulated coins. These are PCGS certified MS63 or higher Gold & Silver U.S. rare coins, dated prior to 1948, which have a proven track record of appreciation and also offer excellent liquidity.

The July 2025 version of CoinStats has updated populations and prices from PCGS. I have also included information on increases in all PCGS grade populations from issue to issue, plus increases in popular PCGS Registries at the bottom of the Best Value page. 2025 is looking like it is going to be excellent year for investment quality rare coin owners with high grade Silver and Gold coins. If you wish to receive a copy of the current CoinStats, just reply to this email with the series requested in the subject line.

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