US & Iran Peace Agreement Drive Gold & Silver Higher
| Stuppler & Company is proud to email our clients this Weekly Market Report (WMR) for the 30th year. This report gives you my overview of the prior week’s precious metal and rare coin market activity and news. In each Weekly Market report, I share my opinion of the current status of Gold and Silver along with the news that effects the price change. |
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This Week's Headlines: |
Last week, Gold trading was highly volatile, with the Gold price dropping to a new 2026 low of $4,022 per ounce on Thursday. However, Gold rallied on Friday following news of a possible Iranian peace agreement. Gold closed at $4,219 per ounce on Friday, up $124 for the day but down $125 for the week.
On Sunday, President Trump announced that the U.S. and Iran had reached an agreement that will take effect on Friday. Under the agreement, the U.S. will lift the naval blockade, and Iran will reopen the Strait of Hormuz. Additional details of the agreement are expected to be released on Friday. Iran's deputy foreign minister stated that negotiations will begin once the U.S. releases billions of dollars in frozen funds, but an American official has rejected that claim.
After President Trump's announcement, Gold and Silver began moving higher. Gold quickly rallied $50 per ounce and continued to gain momentum.
Hopefully, the Iranian conflict is behind us, and we will see many of the world's largest central banks aggressively increase their Gold purchases. Many major financial institutions believe Gold could trade between $5,000 and $5,500 per ounce by the end of 2026 due to massive U.S. debt levels and the ongoing global de-dollarization movement.
Key Economic data to watch this week:
- June 15th, Monday: May Industrial Production
- June 16th, Tuesday: May Housing Starts, May Import Price Index
- June 17th, Wednesday: May U.S. Retail Sales
- June 18th, Thursday: June 13th Initial Jobless Claims
Today: Gold opened in China at $4,329 per ounce on heavy trading volume. As trading moved through India, London, and the U.S., prices continued to rise. Gold reached a high of $4,370 per ounce during early U.S. trading, up $151 from Friday's close.
Last week, Silver trading was highly volatile, ranging from a low of $61.50 to a high of $69.08 per ounce. Silver closed last Friday at $67.95 per ounce, up $4.10 for the day and up $0.10 for the week.
Silver reacted very positively to President Trump's announcement regarding Iran. Silver immediately jumped by $1.50 per ounce and was moving toward $70 per ounce before overseas markets in China opened on Monday morning.
Today: Silver opened in China at $70.64 per ounce on heavy trading volume. Like Gold, Silver continued to move higher during overseas trading. Silver reached a high of $71.43 per ounce during early U.S. trading this morning.
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Barry Stuppler has been a professional numismatist for over 60 years and is considered one the nation’s foremost experts in rare coins and precious metals. Mr. Stuppler is a past President of the American Numismatic Association (ANA) and Professional Numismatists Guild (PNG). He is currently chairman of the Federal and California State Gold & Silver Political Action Committees, and president of the
Anti-Counterfeiting Educational Foundation. Barry Stuppler, the original founder of MintStateGold.com, is proud to say he has helped over 25,000 rare coin and precious metal investors and collectors to build their collections and holdings. For more information about Barry click here.
All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of Stuppler & Company’s knowledge at this time. Stuppler & Company disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein. Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability. All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions.
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