1. U.S. stock futures drifted higher on Monday as investors watched renewed U.S.-China trade talks for signs either side is willing to dial down tensions and reach a tariff deal. S&P 500 futures inched up 0.1%, after the broad benchmark edged above 6,000 to notch its highest close since February. Dow Jones Industrial Average futures also rose 0.1%, while contracts on the tech-heavy Nasdaq 100 also rose 0.1%. Hopes are now for a breakthrough in the high-level trade talks in London on Monday, after a phone call between President Trump and Chinese President Xi last week.
2. Heightened trade tensions and policy uncertainty will see global growth fall to its slowest pace since 2008 outside of global recessions, but precious metals like gold, silver, and platinum will outperform amidst the slowdown, according to the latest Global Economic Prospects report from the World Bank. “Global growth is projected to slow to 2.3 percent in 2025, nearly half a percentage point lower than the rate that had been expected at the start of the year,” the World Bank said in a press release on Tuesday. “A global recession is not expected. Nevertheless, if forecasts for the next two years materialize, average global growth in the first seven years of the 2020s will be the slowest of any decade since the 1960s.” In 2026, commodity prices are projected to soften further, by 6 percent, as production of some energy and metals commodities expands and supply constraints on several agricultural commodities ease. Thereafter, commodity prices are projected to edge up as global growth continues to recover, supporting commodity consumption. The World Bank projects that precious metals will see strong demand, and significant price growth in 2025 and beyond. “The precious metals price index—reflecting principally gold but also silver and platinum, is projected to buck the broader trend, increasing by more than 30 percent in 2025,” the GEP noted. “Annual average gold prices are expected to reach a record high this year, supported by safe-haven flows, before plateauing in 2026-27.”
3. Platinum extended this year’s surge to almost 40%, as the market strains under signs of tightness. The price of platinum, used in jewelry and auto catalysts, as well as in the chemical and glass industries, rose as much as 4.6% to $1,275.45 an ounce on Wednesday. After trading largely sideways at around $1,000 for the best part of a decade, that’s taken the white metal to the highest in more than four years. The gains come as the physical platinum market heads for another year of deficit, boosted by strong Chinese demand for a cheaper alternative to gold jewelry. A dramatic outflow of platinum to the U.S. in the first few months of 2025, over fears that imports would be subject to tariffs, further tightened the availability of the metal. Platinum output in South Africa, by far the world’s biggest producer, has declined this year amid heavy rains and other disruptions. That’s helped to underpin the price gains.
4. U.S. consumer sentiment improved for the first time in six months in June. On Friday, the University of Michigan Surveys of Consumers said its Consumer Sentiment Index jumped to 60.5 this month from a final reading of 52.2 in May. Economists had forecasted the index to rise to 53.5. Consumers’ 12-month inflation expectations fell to 5.1% from 6.6% in May. Long-run inflation expectations dipped to 4.1% from 4.2% last month.
5. U.S. Treasuries trimmed last week’s losses, winning some respite ahead of Thursday’s auction of 30-year debt that will offer a fresh test of demand for the beleaguered securities. Yields fell two to three basis points across the curve; mirroring moves in European bonds and reversing part of the sharp selloff on Friday when U.S. jobs data came in stronger than expected. While scheduled bond auctions are typically routine affairs, Thursday’s $22 billion offering will be particularly scrutinized given the recent volatility in long-dated global bonds. Yields have soared in recent weeks amid growing concern over major governments’ spiraling debt and deficits. “This is going to be key and really set the tone into June as a whole,” said Lauren van Biljon, fixed income portfolio manager at Allspring Global Investments. “We know how much anxiety there is around longer-term financing.” The U.S. 30-year yield has been marching higher since early April, hitting a peak of 5.15% on May 22, the highest since 2023. It was trading two basis points lower at 4.95% on Monday, while the 10-year yield declined by the same amount, to 4.48%.
6. In the week ending June 7, the advance figure for seasonally adjusted initial claims was 248,000, unchanged from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 247,000 to 248,000. The 4-week moving average was 240,250, an increase of 5,000 from the previous week’s revised average. This is the highest level for this average since August 26, 2023, when it was 245,000. The previous week’s average was revised up by 250 from 235,000 to 235,250.
7. Even before Israel attacked Iran, oil prices had been advancing this week, lifted by renewed optimism surrounding U.S.-China trade negotiations. Markets welcomed a more constructive tone between the two economic superpowers, with discussions in London reportedly progressing well. A weaker U.S. dollar further supported crude prices by making oil cheaper for foreign buyers, helping push West Texas Intermediate (WTI) crude to a weekly high of $69.29—the strongest level since early April. The rally underscored how closely oil remains tied to global sentiment and economic confidence, especially in times of uncertain macro conditions.
8. The EUR/USD pair snapped a four-day rally on Friday, retreating from nearly four-year highs above 1.1600 to levels right below 1.1500 at the moment of writing. Israel’s attack on Iran triggered a risk-averse market reaction, with investors rushing to safe assets like the U.S. Dollar and gold.
9. The Japanese Yen stalls its intraday retracement slide from over a one-week high against the rebounding U.S. Dollar amid a combination of supporting factors. Despite reports that the Bank of Japan will keep the benchmark rate steady at 0.5% at its upcoming meeting next week, traders seem convinced that the central bank will stick to the path toward policy normalization amid the broadening inflation.
May’s Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis despite investor concerns that tariffs would accelerate the pace of price increases. The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index increased 0.1% month over month, below April’s 0.2% rise and lower than economists’ estimates of a 0.2% monthly gain in prices. On an annual basis, CPI rose 2.4% in May, a slight uptick from April’s 2.3% gain, which marked the lowest yearly increase since February 2021. Heading into the report, economists had expected core CPI to rise 2.9% year over year and 0.3% month over month.
U.S. mortgage applications to refinance or purchase a home each jumped last week, even as borrowing costs hovered just below 7%. The Mortgage Bankers Association’s measure of refinancing climbed 15.6% in the week ended June 6, the first increase in a month and the biggest jump since early April, according to data released Wednesday. MBA’s index of home-purchase applications advanced 10.3% to the highest level in two months. The burst of borrowing activity comes as the contract rate on a fixed 30-year mortgage ticked up to 6.93% last week. But purchase and refinancing gauges both remain well below their pre-pandemic levels. Economists and real estate agents have said that a sustained drop in home financing costs is needed to reinvigorate the housing market, which is also hamstrung by high prices.
The dollar has sunk to its lowest in three years as rapidly changing U.S. trade policy unsettles markets and expectations build for Federal Reserve rate cuts, fueling outflows from the world’s biggest economy. With the dollar down almost 10% against a basket of major currencies this year, other countries around the globe are grappling with unanticipated FX moves that are having a knock-on impact on economic growth and inflation. “There’s clearly solid dollar selling,” said Kit Juckes, chief FX strategist at Societe Generale.
Volatility should be expected to remain high as investors will be closely watching for hints on the upcoming monetary policy direction. Many investors have redoubled their efforts to ensure that their portfolios are sufficiently diversified in the hope that they will be able to withstand corrections in multiple market sectors. Many of these investors have included physical precious metals as part of their diversification plans, given their long history as a hedge against both inflation and during times of economic turmoil. Remember, the key to profitability through the ownership of physical precious metals is to own the physical product and hold it for the long term. Always remember that you should never overextend your ability to maintain ownership of your precious metals over the long run.
Trading Department – Precious Metals International Ltd.
Friday to Friday Close (New York Closing Prices)
| June. 6, 2025 | June. 13, 2025 | Net Change | ||
| Gold | $3,324.04 | $3,430.53 | 106.49 | 3.20% |
| Silver | $36.04 | $36.31 | 0.27 | 0.75% |
| Platinum | $1,166.65 | $1,231.14 | 64.49 | 5.53% |
| Palladium | $1,051.66 | $1,040.54 | -11.12 | -1.06% |
| Dow | 42762.62 | 42197.79 | -564.83 | -1.32% |
Previous Year Comparison
| June. 14, 2024 | June. 13, 2025 | Net Change | ||
| Gold | $2,333.99 | $3,430.53 | 1096.54 | 46.98% |
| Silver | $29.49 | $36.31 | 6.82 | 23.13% |
| Platinum | $965.45 | $1,231.14 | 265.69 | 27.52% |
| Palladium | $896.93 | $1,040.54 | 143.61 | 16.01% |
| Dow | 38591.49 | 42197.79 | 3606.30 | 9.34% |
Here are your Short-Term Support and Resistance Levels for the upcoming week.
| Gold | Silver | |
| Support | 3334/3265/3220 | 35.09/34.83/33.57 |
| Resistance | 3448/3493/3525 | 37.23/38.49/40.63 |
| Platinum | Palladium | |
| Support | 1131/1084/995 | 1024/992/924 |
| Resistance | 1220/1267/1355 | 1082/1114/1172 |