Week Ending July 19, 2025
| Metal | Open | Close | Change | % Change | High | Low | Trade Range |
|---|---|---|---|---|---|---|---|
| Gold | $3,356.91 | $3,350.11 | -$6.80 | -0.20% | $3,372.16 | $3,314.64 | $57.52 |
| Silver | $38.41 | $38.18 | -$0.23 | -0.60% | $39.07 | $37.63 | $1.44 |
| Platinum | $1,387.56 | $1,431.15 | +$43.59 | +3.14% | $1,480.57 | $1,367.22 | $113.35 |
| Palladium | $1,199.76 | $1,239.16 | +$39.40 | +3.28% | $1,326.80 | $1,189.40 | $137.40 |
Gold is behaving exactly as expected during the traditionally quiet summer months, maintaining a consolidation phase around the $3,300 per ounce level. Last week’s trading showed a tight range with steady volume—neither particularly brisk nor flat. The April high of over $3,500 was widely considered an overbought position, and the current support level confirms this assessment.
Experienced gold investors are well-acquainted with the metal’s tendency to slumber during summer months. The current support at $3,300 appears solid, with resistance establishing itself at $3,700 for what many anticipate will be the next significant upward movement, expected to begin in mid-August to early September.
Adding to the bullish outlook, President Trump announced Thursday that he is considering an Executive Order to allow gold and other alternative investment vehicles to be held in Qualified Retirement Accounts such as IRAs and 401(k)s. Such a move could redirect a substantial portion of the nearly $10 trillion held in these accounts toward gold investments.
Silver finds itself in the midst of a closely watched battle at the psychologically significant $40 barrier. Bulls have mounted two respectable challenges against the bears over the past two weeks, and a breach appears imminent. However, institutional players seem to need more time to reposition their holdings before yielding ground.
The duration of this standoff will be telling—the longer institutions can maintain their defensive line, the more momentum will build for silver to leap past the $40 mark. Notably, silver has evolved from being gold’s “little sister” to trading on its own fundamentals, having broken free from gold’s influence two years ago.
The metal’s recent performance has been impressive: a year ago, silver traded at $27, and as recently as April, it was at $29. While silver appears underbought at $38.18, investors should exercise caution. Many shuttered silver mines would return to production at the first sign of a significant run, and some active miners have been warehousing their product rather than selling into the market, borrowing against their inventory instead.
Platinum and palladium remain closely correlated as they continue their remarkable recovery that began in early April. Over the past three months, platinum has surged 55% while palladium has risen 35%, both metals climbing back from what many considered near-death levels.
The platinum family of metals lacks strong investment fundamentals and depends heavily on global economic strength due to their industrial importance. Remarkably, one in five products worldwide either contains platinum or uses platinum in the manufacturing process. While palladium can perform many of the same functions as platinum, it requires twice the quantity to achieve the same results.
Manufacturing forecasts have shown more strength than in recent years as the worldwide recession appears to be seeing light at the end of the tunnel, supporting these industrial metals’ recovery.
An eerie calm pervades markets globally, with a wait-and-see attitude hovering over retail investors. However, Wall Street watchdogs report the opposite behavior among institutional investors, who are selling in staggering amounts—a pattern reminiscent of the two most recent stock market corrections.
During those previous corrections, retail investors experienced the same quiet while institutional investors engaged in heavy selling, all while encouraging others to “come on in, the water is great.” This apparent contradiction exists because every seller requires a buyer.
Psychological studies of the fight-or-flight instinct reveal that doing nothing in the face of fear often produces the worst outcomes. While our current environment may feel normal, it is anything but. In times like these, assets under our control should be positioned in cautious and protective modes.
Gold and silver serve as that protection—insurance for your money. Just as we maintain insurance on our homes, cars, health, and lives, too many investors lack insurance on their money. While there is never a bad time to buy gold and silver, some times are undoubtedly better than others, and current conditions suggest this may be one of those opportune moments.
