Weekly recap · Jun 2–Jun 6, 2025
Gold ends higher for the week, but jobs data hits Friday; silver and platinum surge
Gold finished the week at $3,339.90 an ounce, up +1.9% from Monday, but it fell on Friday after strong U.S. jobs data reduced expectations for near-term Federal Reserve rate cuts, Reuters reported. Silver and platinum were the standout movers, with silver pushing to a more-than-13-year high and platinum posting a strong weekly gain. Several reports kept the focus on steady central-bank buying as a key support for gold. At the same time, ETF flow data pointed to softer investment demand in May, adding some balance to the narrative.
AI summaryWritten automatically with AI from 39 linked reports and our own price data, Oct 21, 3:06 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made
The week in prices
- Gold$3,339.90+1.9%
- Silver$36.19+9.4%
- Platinum$1,167.00+9.0%
- Palladium$1,030.00+6.8%
Tone of the reports: Mixed
The week’s key developments
Gold ended at $3,339.90 an ounce and fell -1.03% on Friday after strong U.S. jobs data led markets to scale back near-term Fed rate-cut expectations, according to Reuters.
SourcesReuters: Gold falls over 1% as strong US jobs data clouds outlook for rate cuts2: Fed seen in no rush to cut rates as US job market cools but doesn't crumble
Central-bank demand remained a major theme: multiple reports said central banks are on track for a fourth straight year of large gold purchases, even after the price rally.
SourcesKitco News: Central banks on track for 4th year of massive gold purchases ...Earlier news service: Central banks on track for 4th year of massive gold purchases, Metals Focus says2: Global CENTRAL BANKS keep stockpiling gold at record pace
The World Gold Council said central banks added 12 tonnes to gold reserves in April, and Kitco highlighted additional African central-bank buying plans.
Gold investment demand via ETFs weakened in May: Seeking Alpha reported physically backed gold ETFs saw $1.8 billion in outflows, ending a five-month streak of inflows.
SourcesSeeking Alpha: Gold ETF Flows: May 20252: Global gold ETF flows turn negative in May, total outflows hit $1.8 billion (GLD:NYSEARCA)
Silver strength drew attention after it jumped to its highest level in 13 years, with one report tying the move to the broader 2025 precious-metals rally.
SourcesEarlier news service: SILVER jumps to highest level in 13 years, following gold’s 2025 rally
Supply-and-flow headlines were mixed: Reuters reported Perth Mint’s May gold sales fell to a three-month low and its silver sales dropped 31%.
SourcesReuters: Perth Mint’s May gold sales slip to 3-month low; silver down 31%
Trade and tariff risk stayed in the background: Reuters reported Canada was preparing reprisals over U.S. metals tariffs, a backdrop that can feed safe-haven interest in gold.
SourcesReuters: Canada prepares reprisals over U.S. metals tariffs, EU reports ...
Bull vs bear
The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.
The case for higher prices
Central banks are still accumulating gold and are described as being on track for a fourth straight year of heavy purchases, which several reports presented as ongoing demand support.
SourcesKitco News: Central banks on track for 4th year of massive gold purchases ...Earlier news service: Central banks on track for 4th year of massive gold purchases, Metals Focus says2: Global CENTRAL BANKS keep stockpiling gold at record pace
Trade/tariff uncertainty remained in focus in some coverage, a backdrop that can support safe-haven positioning in gold.
SourcesReuters: Canada prepares reprisals over U.S. metals tariffs, EU reports ...The Economic Times: Rising uncertainty over trade wars and de-dollarisation are pushing up global demand for gold — its supply is limited: Campbell R. Harvey
Investing.com said weak U.S. data was supporting gold by fueling expectations for Fed rate cuts.
SourcesInvesting.com: Gold Prices Gains as Weak US Data Fuels Fed Rate Cut ...
The case for lower prices
Reuters said strong U.S. jobs data reduced expectations for near-term Fed rate cuts, which weighed on gold.
SourcesReuters: Gold falls over 1% as strong US jobs data clouds outlook for rate cuts2: Fed seen in no rush to cut rates as US job market cools but doesn't crumble
Seeking Alpha reported physically backed gold ETFs had $1.8 billion of outflows in May, ending a five-month inflow streak—data that points to softer investment demand.
SourcesSeeking Alpha: Gold ETF Flows: May 20252: Global gold ETF flows turn negative in May, total outflows hit $1.8 billion (GLD:NYSEARCA)
BusinessLine reported April central-bank gold purchases were below the 12-month average, suggesting the pace may not be accelerating every month.
SourcesBusinessLine: Central banks’ gold purchases down below 12-month average in April
What to watch next week
- Next weekUS inflation dataAction Forex said U.S. inflation is the key item on deck, with trade uncertainty also in view—both can influence interest-rate expectations and gold sentiment.
Metal by metal
Day by day
- Monday, Jun 2Gold jumps to $3,370.85 on weak dollar and safe-haven bid; silver firmer, platinum drops
- Tuesday, Jun 3Gold slips to $3,334.75 as dollar and jobs data cool demand; silver jumps to $34.25
- Wednesday, Jun 4Gold firm on weak U.S. data and safe-haven bids; platinum outperforms
- Thursday, Jun 5Silver and platinum led a broad metals pop; gold steadier amid mixed Fed signals
- Friday, Jun 6Gold drops on strong jobs data; silver, platinum and palladium finish higher
How this page is made
Collected every hour. Summed up twice a day. Linked to the source.
Where the news comes from
- Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
- Kitco News and MetalsDaily
- The World Gold Council
- Google News, for wider coverage
- A daily AI web search for anything the feeds missed
How the briefs are written
Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.
Who publishes it
Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.
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