Last week was a boon for precious metals, with gold rocketing back above US$3,400 ($5,204) an ounce and silver on the weekend pushing past the ‘all-important’ US$40 per price point.
The breakout week follows a three-part feature series on precious metals by Mining.com.au in August, which digs deep into the coinage metals – gold and all its lustre, and the silver surfers.
ABC Bullion reports last week silver was last trading above US$39oz before hitting US$40.19 peak on Saturday, which is a level not seen for almost 25 years.
In terms of overall returns, year-to-date, silver (24.6%) is marginally outperforming gold (22.3%) in Australian dollar terms.
“In Australian dollar terms, silver continues to push toward new highs and is back trading above $60oz, after beginning the year at just $47.7oz. With the gold to silver ratio now sitting at just 87:1, having started the month of August at just over 91,” ABC Bullion says.
“Given silver outperforming gold has been the historical norm in fully fledged precious metal bull markets, the price action seen this month is highly encouraging for precious metal bulls, who are increasingly convinced gold, silver and platinum will march to new highs across the rest of 2025.”
Meanwhile, physical silver bullion investment continues to be one of the most fundamental areas of global silver demand throughout 2025, according to ABC Bullion.
“Over the last decade and a half, silver bar and coin investment has varied widely, extending from just 157 million ounces in 2017 to an all-time peak of 338Moz in 2022. This highlights the white metals high demand side volatility.”
In part three of the precious metals feature series, Mining.com.au reveals the outlook for the palladium and platinum market look robust. Executives interviewed by this news service agree the fundamentals for these PGMs in particular are “fantastic”.
Write to Adam Orlando at Mining.com.au
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