Gold and Silver Trade Far Below January Peaks as Rates, Dollar Weigh
Spot gold and silver trade well below their late-January records of $5,589.38 and $121.67 per ounce. Gold posted its worst quarterly decline in 13 years through June. Higher interest rates, a firm US dollar and elevated oil prices continue to shape flows across the precious metals complex.
Nictick — educational context
Both metals rallied through 2025 before peaking in late January. Since then, rate expectations and dollar strength have raised the opportunity cost of holding non-yielding assets. Silver demand spans investment and industrial use, linking it to the broader metals complex.