Live Spot Gold
Bid/Ask
3,299.133,301.13
Low/High
3,286.793,346.43
Change
-36.26-1.09%
30daychg
-8.33-0.25%
1yearchg
+941.64+39.94%
Silver Price & PGMs
(Kitco News,Tuesday.July 8th, 2025)- Gold and silver prices are slightly lower in early U.S. trading Tuesday. Quieter summertime trading appears to be in place early this week. Gold and silver market bulls need a new fundamental spark to ignite fresh upside price action. Otherwise, look for more choppy and sideways trading in the near term. August gold was last down $7.90 at $3,334.90. September silver prices were last down $0.094 at $36.81.
Asian and European stocks were mixed overnight. U.S. stock indexes are pointed to mixed to slightly higher openings today in New York. Risk appetite has receded a bit Tuesday after President Trump on Monday slapped additional tariffs on Japan and South Korea. Trump also sent letters to more than a dozen countries, threatening tariffs of between 25% and 40%. Trump also delayed until Aug. 1 the deadline for countries to make a trade deal with the U.S.
The key outside markets today see the U.S. dollar index slightly down. Nymex crude oil futures prices are slightly down and trading around $67.75 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently at 4.40%.
U.S. economic data due for release Tuesday includes the weekly Johnson Redbook retail sales report, the NFIB small business index, and consumer credit.
Technically, August gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,400.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $3,200.00. First resistance is seen at the overnight high of $3,355.60 and then at last week’s high of $3,376.90. First support is seen at this week’s low of $3,304.40 and then at $3,300.00.
September silver futures bulls have the overall near-term technical advantage but trading has turned choppy and sideways at higher levels recently. Silver bulls’ next upside price objective is closing prices above solid technical resistance at the June high of $37.73. The next downside price objective for the bears is closing prices below solid support at $35.00. First resistance is seen at this week’s high of $37.435 and then at the June high of $37.73. Next support is seen at this week’s low of $36.325 and then at $36.00.
Posted by:
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com