AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

6/5/2025: Silver surges to 13-year high

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold slid 0.7% to close under $3,351 as Treasury yields rose after President Trump announced progress in trade talks with China. Silver surged 3.4% to finish at $36.08. the highest level in 13 years.

After speaking with Chinese President Xi by telephone today, Trump tweeted "a very positive conclusion" to negotiations over trade conflicts between the world's two largest economies.

While no specifics have been forthcoming, and while reporting from China was notably less positive, any progress in preventing a breakdown in trade relations is positive for both economies.

Benchmark 10-year Treasury yields rose back up to 4.4% on the tariff optimism, pressuring gold by increasing the opportunity cost for holding it instead of bonds for safety.

Silver surged on the expectation of increasing industrial demand if US-China trade gets back on solid footing. In addition, a deficit in global silver supplies has put the metal in position for significant gains. Silver often lags gold in bull markets but then plays catch up with a vengeance.

Platinum jumped 4.5% while palladium added 0.6%.

At the New York spot close: gold slipped $22.80 to $3,350.70; silver surged $1.17 to $36.05; platinum jumped $45 to $1,133.70; and palladium climbed $6.20 to $1,006.50 an ounce.