As of June 16, 2025, the spot price for gold was $3,385.30 per ounce, while silver stood at $36.32 per ounce. The physical gold and silver markets are being driven by heightened geopolitical tensions, particularly the ongoing conflict between Israel and Iran, which has led to increased demand for safe-haven assets. Reports indicate that this unrest, now in its fifth day, continues to bolster investor interest in precious metals as a hedge against uncertainty.
In addition to geopolitical factors, the precious metals have seen strong performance year-to-date, with gold up over 25% since the start of 2025 and silver surging nearly 30% in the first half of the year. Market participants are also closely watching upcoming US economic data, including retail sales and industrial production figures, as well as the Bank of Japan’s monetary policy decision on June 17 and the Fed monetary policy decision tomorrow, both are expected to maintain unchanged interest rates. These events could influence currency markets and, consequently, precious metal prices.
