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After reaching a 2025 low of $2,625 per ounce on Jan. 2nd, Gold has increased $65 per ounce (2.5%). This increase was in the face of the U.S. Dollar Index hitting a 2 year high of 109.97. Plus, a number of strong U.S. economic indicators were released last week which point to the Federal Reserve being unlikely to lower interest rates later this month. During trading on Friday, Gold briefly reached a high of $2,709 before seeing weekend profit taking. Gold closed Friday at $2,690 per ounce, up $65 for the week. Seeing Gold move above the key $2,700 resistance level is important for the short-term direction of the Gold price.

This week the US Manufacturing and Trade inventories and sales numbers will be released. Next week the Federal Reserve will be meeting on the 26th and 27th, followed by an announcement on Fed Fund interest rates. Based on all of the U.S. economic reports released in January, the financial market analysts feel that they will not lower interest rates this month.

Since 2024 is behind us, it is good to recap the results of the year. It was an excellent year for Gold investors. Gold started 2024 at $2,062 and reached a high of $2,790 in October then closed at $2,629.80 per ounce, which was a 27% increase for 2024. I am optimistic about 2025. With increasing demand, worldwide debt growing at a historic rate, and serious concerns about Trump polices we could easily see another 27% increase in 2025, which would put Gold over $3,340 per ounce.

Today: In overnight trading in Asia, the Middle east, and Europe Gold reached a high of $2,696 and a low of $2,658 per ounce. The strength of the U.S. Dollar, with the Index reaching a 3-Year high of over 110, is putting pressure on the Gold price. Interest rates are also moving higher, which makes Treasury bill look more attractive.

Last week, Silver was the star performer in the precious metal sector. Silver broke above the key $30 per ounce resistance level and closed the week at $30.48, up $0.88 (2.97%) for the week. Heavy demand for physical Silver took the price over $31 on Thursday and Friday during Asian and European trading. The trading volume in most of the world’s largest commodity exchanges was at the highest point I’ve seen this year.

With Gold approaching $2,700 per ounce, I am seeing a good number of precious metal investors taking a serious look at increasing their Silver holdings. The Silver-to-Gold price ratio is at 88-to-1 which is a good reason to increasing your holdings of investment quality physical Silver.

Today: Silver followed Gold lower in overnight trading, finding support at $29.43 and moving back over the $29.50 level. I saw strong demand for physical Silver investment items at today’s lows.

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