A look back at the week of June 2nd – June 8th, 2025, reveals dynamic shifts across the US precious metals and broader metals landscape, marked by historic silver gains, a critical jobs report, and significant activity from the United States Mint.
The initial complete week in June 2025 saw a combination of thrilling peaks and tactical shifts for U.S. investors. Although the silver piece de resistance with its sensational rise, the overall market was equally interested in U.S. economic indicators and what they indicate about the Federal Reserve's money policy. BOLD Precious Metals, as a licensed bullion dealer since 2015, monitors these events as closely as possible to keep our valued clients abreast of developments.
Silver was the darling of the US precious metals market last week, embarking on a steep climb that pushed its price to multi-year highs, frequently above $36.00 an ounce. It was an amazing rally driven by a set of factors unique to the US market, highlighted by silver's growing significance.
Strong industrial demand, i.e., from US manufacturers in the growing solar energy and electric vehicle (EV) markets, was a primary catalyst. Silver's critical application in such clean technologies adds to its increasing applicability outside traditional investing. This demand, combined with physical market tightening inventories, provided a solid context for prices to rise.
In addition to that, increasing investor appetite for diversification also continued to drive silver. Most US investors, seeking alternatives within the precious metals complex, rushed to silver, which otherwise had trailed gold's earlier gains. This combination of industrial demand and investment demand solidified silver's status as a leader.
The second half of last week highlighted a pivotal US economic indicator in stark relief: the May Non-Farm Payrolls (NFP) report on Friday, June 6th. The report included a better-than-expected US labor market with employment growth exceeding economists' expectations, shaping Federal Reserve (Fed) policy expectations.
These strong employment figures prompted investors to soften expectations of near-term or aggressive Fed rate cuts. Strong labor markets will decrease the need for the Fed to relax monetary policy and thereby make non-yielding assets such as gold less attractive relative to interest-bearing assets such as Treasury notes. Gold prices, therefore, softened slightly from their prior weekly highs after the NFP release.
The market focus is now squarely on upcoming US inflation data, with investors and analysts adjusting their expectations for the following Federal Reserve policy action cautiously. The complex dynamic between Fed rates and precious metals is a common and closely watched theme across the US financial market, shaping investor sentiment and trading patterns.
The US Mint kept collectors busy one week longer, releasing some extremely significant new products that created quite a buzz. On Wednesday, June 5, the highly anticipated 2025 American Eagle One-Ounce Gold Uncirculated Coin was released to the market. Featuring a very low mintage of just 7,500 coins, this collector's version of the classic American Eagle Gold Coin was an instant national phenomenon among collectors, producing strong sales.
In addition to the week's coinage mania, the US Mint then had another major news announcement on Thursday, June 6th. They announced the impending pre-sale phase of the 250th Anniversary United States Army American Eagle One Ounce Silver Proof Coin, which will start on June 13th. The celebratory release, with a low mintage number of 100,000, will be another extremely popular coin.
These strategic releases highlight the US Mint's dedication to providing collectible and varied products to the American market with the intent of contributing towards maintaining consistent investment interest in both the series of American Eagle Gold Coin and American Eagle Silver Coin among investors and collectors. The continued release of limited-edition products helps maintain the active vigor of the US numismatic community.
Other than the precious metals, the US metals space as a whole saw considerable movement on account of domestic policy discussion in the week. A number of the larger US steel stocks saw a clear move, specifically at the start of the week on Monday, June 2nd. This follows news that had circulated in the financial community that the Trump administration was mulling a massive boost in US steel tariffs, which can be doubled up to 50%.
The proposed policy is clearly intended to favor domestically produced steel manufacturing and safeguard US manufacturing employment. Protectionist policies such as the one suggested would greatly increase the cost of imported foreign steel, thus leveling the playing field for domestically constructed substitutes. Such a possibility had an immediate and direct positive effect on the share price of major US steel producers.
The report highlights the ongoing influence of government policy and trade policy in shaping major US industries and commodity markets. The action highlights the extent to which US administrative policymaking can directly shape the profitability and market attitude toward significant metal flows, defining investment strategy and employment in the country's industrial base.
Get ahead of the game and ride the precious metals wave with confidence with BOLD Precious Metals. For up-to-the-minute data and expert insights, check out the BOLD Knowledge Center at BOLD Precious Metals.
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