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	UBS Says Silver Prices Should Rise Once Fed Begins Cutting Rates
	Silver prices have struggled due to a strong US dollar and speculative traders reducing their net long positions in the futures market....Vahid Karaahmetovic
	Gold Market Is Building A Staircase To $2,400 And Beyond
	Although the gold market has managed to hold its ground above $2,300 an ounce, it remains trapped below $2,350 an ounce.... Neils Christensen
	Gold Bounces Ahead Of Potentially Market-Moving Inflation Data
	Gold rallies, trading in the $2.320s on Thursday.... Joaquin Monfort
	Secrets of the Silver Chart Revealed
	The silver chart has many secrets, one of them being the insights that can be derived from the timeline....Taki Tsaklanos
	Gold Ownership On The Rise Among North American Professional Investors
	Gold has rarely been out of the headlines in recent months, having outperformed most other global assets and repeatedly reached record highs....Louise Street
	Silver Prices Forecast Resilient Buyers Reacting To Fed Rate Expectations
	Silver prices rise on Monday as U.S. Treasury yields ease, attempting to recover from Friday's losses....James Hyerczyk
	Is China Hiding How Much Gold It Really Has?
	A few weeks ago, gold sold off on news that the People’s Bank of China didn’t add any gold to its reserves in May.... Mike Maharrey

Gold reached a low of $2,290 per ounce last week, before bouncing back on Friday. This was the fifth attempt to break the important $2,300 support level since Gold hit its all-time high of $2,451 on May 20th, 2024. There have been many bearish economic indicators released in June that could have easily caused Gold to drop to $2,250 per ounce, but it didn’t. Why? Because demand for physical Gold continues to be strong. Whether it be financial institutions, central banks or public bargain buying, it’s clear there is a high demand for Gold. Why? Because there is increasing concern about the U.S. growing national debt, now almost 35 Trillion Dollars and growing by $2 Million every minute (see https://www.usdebtclock.org ). There is also substantial concern from many worldwide financial institutions about a possible drop in the United States government credit rating.

June ended with Gold closing at $2,324.70 per ounce, up $5.70 for the week, and up $2 for the month. Basically, June was a month that Gold consolidated it’s recent increase and built a firm base for another move to the $2,400 level. Due to the Fourth of July holiday, the month of July will start slow. We will see the June Construction Spending and 2nd Quarter U.S. International Trade numbers, plus minutes from the Federal Reserve June meeting before the holiday on Thursday.

Today: Gold is trading in a narrow range this morning, between $2,317 and $2,337 as Investors await for further direction from U.S. manufacturing data for June, which is due out Wednesday. Also many eyes are focused on the results of the French election. Gold trading is likely to be volatile this week with light volumes as U.S. financial markets are set to close Thursday for the Independence Day holiday.

Last week Silver traded between $28.58 and $29.75 per ounce as it continued to consolidate the increase from the $22.04 price in January 2024. The Silver price can be more explosive than Gold, but the inflation numbers and Federal Reserve policies affect the Silver price more.

As long as Gold stays above the $2,300 per ounce support level, I expect to see Silver stay in the current range and gradually move toward the important $30 per ounce resistance level. Physical demand for popular Silver coins and bars is growing in China and India, while the U.S. demand is going through the summer doldrums.

Silver closed at $29.14 per ounce, down $0.41 for the week. The Silver-to-Gold Ratio moved to 80.37-to 1 last week, an excellent time to own more Silver.

Today: Silver did test the $29 level in Asian trading, reached a low of $28.92 before seeing bargain buying. The Silver price quickly rallied to $29.50 as the markets rolled into Europe.

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