6.3.25 - Is the Silver Bull Market Coming?

6.3.25 - Is the Silver Bull Market Coming?

Gold last traded at $3,353 an ounce. Silver at $34.57 an ounce.

Is the Silver Bull Market Coming? Analysts Emphasize That $34 Is a Key Level! -SSM

Amid economic uncertainties and ongoing geopolitical turmoil, international prices of gold, silver, and crude oil surged during China's Dragon Boat Festival holiday. An analyst noted that gold prices still have significant room to rise, but now might be a more opportune time to focus on silver.

Michele Schneider, Chief Market Strategist at MarketGauge, stated that gold and silver prices have been consolidating, leading her to maintain a neutral stance on both. However, if silver prices firmly break above $34 per ounce, she will seek to buy, as reaching $40 is only a matter of time.

As of press time, the latest quote for London silver was $34.106 per ounce, down over 1.7% on the day but still up over 3.4% from Friday's close. Schneider emphasized the need for patience in the silver market, as there is still some resistance in the sector, but she hopes to see sustained buying following this breakout.

She stressed that when buyers are strong, it will signal the beginning of a more significant rally in silver.

Despite gold's strong performance this week, Schneider pointed out that the surge in the gold-silver ratio may indicate that silver is poised to shine. Currently, the gold-to-silver price ratio has fallen below the 50-day moving average, possibly signaling an anticipated rotation into silver.