Gold Up $100 Last Week As Israel Attacks Iran

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Last week we saw a run for Gold (the ultimate safe-haven asset) as Israel attacked Iran and ignited a Middle Eastern war. That, combined with our domestic unrest, is driving the value of the U.S. Dollar lower and the price of Gold higher.

Last week it was reported that the consumer price index is increasing, the Producer Price index is dropping and the U.S. Jobless rate is increasing. These key Economic indicators are a strong sign that the U.S. economy is heading towards stagflation.
Stagflation means negative growth for our country and should lead to the U.S. Dollar’s value dropping and higher Gold prices.

Gold closed last Friday at $3,435 per ounce, up $100 for the week and $806 (30.77%)
for 2025. I continue to believe Gold will test the $3,500 per ounce level this month and reach $4,000 per ounce by year's end.

Key Economic data to watch this week:
The week of June 16th to 20th, 2025
- Tuesday: May U.S.Retail Sales
- Wednesday: May housing starts, FOMC Interest-rate decision
- Friday: U.S. leading economic indicators for May

Today: Today, the Gold price has traded overseas and in the U.S. between $3,380 and $3,452 per ounce. Gold is moving higher at a healthy rate, breaking above $3,400 on the Israel/Iran news and showing excellent price support after light profit-taking. I believe Gold will trade in the narrow range between $3,400 and $3,450, building good support and will breakout to $3,500 by month's end.

After rallying above $35 and $36 per ounce on June 5th, Silver closed above $36 per ounce for the past seven trading days. Last week, Silver traded between $35.50 and $36.80 all week, building a firm foundation for a move to $40 an ounce. Trading volume on most of the world’s leading commodity exchanges and investor demand for popular Silver physical bullion coins and bars is increasing.

Silver closed Friday at $36.27 per ounce, up $0.25 per ounce.

The Silver-to-Gold Ratio moved lower to 94.62-to-1.

Today: Silver is holding above $36 per ounce, and didn’t see heavy selling when Gold reached its lows today. Silver traded today between $36.01 and $36.58 per ounce, as it continues to build a firm base above the $36 per ounce support level.

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