Gold and Silver Prices Slide as Investor Confidence Rises
Friday, June 13th 2025
Gold and silver markets opened sharply lower on Tuesday as investors returned from the long U.S. holiday weekend with a renewed appetite for risk. A combination of profit-taking and futures market liquidation put significant downward pressure on precious metals.
Market Snapshot: Early Trading Losses
As of the latest update, June gold futures had dropped by $77.20 to $3,288.60 per ounce, while July silver futures were down $0.629, trading at $32.98. The shift in sentiment followed a more optimistic outlook from global investors and traders.
Tariff Delay Boosts Risk Sentiment
One key driver behind the improved market mood was the announcement that President Trump would postpone the imposition of 50% tariffs on the European Union until July 9. Originally scheduled to begin on June 1, the delay allows for further trade negotiations and has eased immediate tensions, supported equity markets and reducing demand for safe-haven assets like gold and silver.
Global Markets and U.S. Indicators
Stock markets in Asia and Europe traded mixed to higher, while U.S. indices pointed to strong gains at the opening bell in New York. This risk-on mood further weighed on the precious metals market.
The U.S. dollar index traded higher, reinforcing the downward pressure on gold. Meanwhile, Nymex crude oil was steady near $61.50 per barrel, and the yield on the 10-year U.S. Treasury note stood at 4.456%.
Investors are also watching a busy U.S. economic calendar, with reports due on durable goods, home prices, consumer confidence, and Texas manufacturing.
Technical Outlook for Gold
Despite Tuesday’s drop, gold bulls still hold a technical edge in the near term. To regain upward momentum, they need to push prices above strong resistance at $3,400. Key resistance levels to watch are $3,300 and last week’s high of $3,366.50. On the downside, support is seen at $3,250 and $3,225. A break below the May low of $3,123.30 would give bears firmer control. Wyckoff’s Market Rating: 6.5.
Silver Price Forecast and Key Levels
Silver bulls retain a slight technical advantage. To solidify this position, July silver must close above $34.015. Downside targets for bears include support at $32.50 and $32.00, with a key level at the May low of $31.78. Immediate resistance stands at $33.50, followed by $34.015. Wyckoff’s Market Rating: 5.5.
Conclusion: Risk Appetite Challenges Precious Metals
With investor optimism on the rise, particularly due to easing trade tensions and positive global market sentiment, precious metals are under pressure. However, technical support levels remain intact, keeping the outlook cautiously bullish for now.
