ABC Bullion’s gold spot price was sitting at $5,152.82 (US$3,346.76) as of 8.20am AEST this morning (8 July).
A 1 ounce ABC Bullion Pool Allocated is buying for $5,237.80 and selling at $5,014.10.
Meanwhile, the spot prices for other precious metals on Thursday morning are $56.99 (US$37.01) for silver, while platinum’s is $2,136.55 (US$1,387.69) and palladium $1,757.49 (US$1,141.49).
Gold has been dancing to its own rhythm in Q2 2025, with spot prices surging to $5,041.50 per ounce at the beginning of the quarter, as previously reported, buoyed by geopolitical tensions and shifting monetary signals.
JP Morgan reports gold prices have rallied significantly this year, climbing as much as 30% year-to-date in April, surpassing its previous forecasts.
As reported by this news service last week, gold sat at $5,037.68 per ounce on 1 July.
Canaccord Genuity Mining Analyst Tim McCormack says these prices are a “happy place” for everyone to make good money. But not everyone has been invited to the party.
Speaking to Mining.com.au, renowned investor Rick Rule says “make no mistake, we’re in a gold bull market” and Australia is well-positioned to benefit substantially from the forthcoming touted boom.
Meanwhile, silver has also been on some kind of run. When US President Donald Trump on 2 April ‘Liberation Day’ launched a bunch of tariffs on countries all over the world, the price of silver – like many other metals – tumbled from its 2025 peak.
Prior to Liberation Day, silver reached a high of nearly US$35 ($54.47) an ounce in 2025, before sliding over 15% to below US$30 an ounce.
However, as reported by this news service, that appears to have been an inflection point for the precious metal that has not previously enjoyed the same high-level interest that gold has.
Silver metal has been a solid performer in Q2 2025, increasing 10% since the start of the period, which is actually a bigger gain than gold, which is only up 8% over the period.
Write to Adam Orlando at Mining.com.au
Images: ABC Bullion
