Silver Explodes Higher On Strong Demand

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Last week, Gold traded between $3,300 and $3,390 for most of the week’s trading. Gold closed Friday at $3,323, up $33 for the week. International demand for Gold remains strong as central banks and large investors continue to add the ultimate safe-haven asset to their stores.

Central bank Gold buying is estimated to be over 1,000 metric tons in 2025. 2025 will be the fourth year in a row that the world’s Central Banks have purchased massive amounts of Gold.

Physical demand for many of the popular bullion Gold coins and bars has been strong in Asia, the Middle East, and Europe. However, physical demand within the U.S. has been weak and premiums have dropped. Many of the popular Gold investment coins, U.S. Eagles & Buffalos, Canadian Maple Leaves, and South African Krugerrands have seen their premiums move lower due to selling by U.S. citizens.

The main driver for the current Gold rally is the concern over the damage that U.S. tariffs and trade wars with many countries would do to the U.S. economy. That concern has led to a serious drop in the U.S. Dollar’s value on the global stage since the beginning of 2025. The geopolitical turmoil in Ukraine/Russia and Gaza has increased Middle Eastern safe-haven investment buying.

My outlook for the Gold price this summer is strong. Gold should reach $3,500 in June and move higher as the year moves on, reaching $4,000 by the end of 2025.
However, any major change in tariffs, trade wars and geopolitical wars could cause
a dramatic change in the Gold value.

Key Economic data to watch this week:
The week of June 9th to 13th, 2025
- Monday: Wholesale Inventories for April
- Wednesday: May Consumer Price Index, Core and COP year/year and May
- Thursday: May Producer Price Index, Initial Jobless claims for June 7th

Today: Gold has traded in Asia, the Middle East, London, and in the U.S. today between $3,292 to $3,332 per ounce. Gold continues to consolidate recent gains and build a firm base in the $3,300 area for the next move higher as it works it way back to $3,500 per ounce.

Last Thursday, Silver made a 13-Year high during NY Comex trading. Silver reached a high of $36.14 per ounce then jumped to a high of $36.40 on Friday before seeing weekend profit taking. This surprising move higher ran right through the $35 long-term resistance level with sizeable trading volume and massive short-covering. During Thursday and Friday trading, Silver traded above and below the $36 per ounce level.

Silver closed Friday at 36.02 per ounce, up $3.12 per ounce.

The Silver-to-Gold Ratio moved lower to 92.25-to-1.

Today: Silver continues to be the leader in the precious metal group. Silver reached a new 2025 high of $36.73 per ounce today, on excellent demand and trading volume in most commodity markets around the globe.

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