Overview

• Spot gold briefly reached about $3,508.7 per ounce before easing to roughly $3,484, extending a multi‑day rally.
• Silver traded above $40 per ounce and set euro‑denominated highs, though its U.S. dollar price remains below the 2011 peak near $50.
• A weaker dollar and safe‑haven demand are boosting precious metals, with analysts citing concerns over Federal Reserve independence following President Donald Trump’s moves involving Governor Lisa Cook.
• Central banks and investors continue to add exposure, and silver‑backed ETFs logged a seventh straight month of inflows that reduced freely available inventories in London, according to reporting cited from the Wall Street Journal.
• Silver’s market stays tight as record 2024 industrial use and repeated supply deficits persist, and traders say upcoming labor data will shape expectations for the Fed’s next steps.