Gold and silver prices have seen significant changes in 2026. Both metals set new records during 2025. Gold prices surged from $3,865 in October to surpassing $5,000 by January. Silver rose remarkably from $47 to a peak of $116 per ounce.
However, the prices for these metals have since declined. As of May 25, gold is priced at $4,463 per ounce, and silver is at $74 per ounce. Despite these decreases, both metals have maintained substantial gains over a longer period. Gold is up 36% and silver has increased by 133% over the last 12 months.
The Iran conflict and the Federal Reserve’s interest rate policies have influenced these shifts.
The ongoing war with Iran has increased energy prices, diverting investments from gold. The Federal Reserve’s interest rate policies have also influenced investors’ preferences, with many turning to interest-paying options like bonds and high-yield savings accounts.
Gold and Silver Outlook for June 2026
We asked precious metals experts about their June forecasts. Opinions vary due to current market conditions, offering a diverse view of the short-term prospects for gold.
Gold Forecasts
Thomas Winmill, portfolio manager at Midas Funds, predicts a decline of 0% to 5% for gold in June. He suggests that seasonal trends in jewelry demand contribute to this expectation. Gold prices usually drift down in June and July.
Conversely, Deric Ned, of Gold Safe Exchange, anticipates stability, expecting prices to remain between $4,400 and $4,800. He notes potential increases later in the month, depending on geopolitical developments and market reactions to inflation and interest rates.
Brett Elliott from APMEX offers a broader range, indicating prices could fluctuate between $4,050 and $4,950. He believes oil prices and geopolitical factors like the Iran War play significant roles in these movements.
Silver Forecasts
Expert opinions also differ on silver’s June journey. Winmill foresees a 10% to 15% drop, expecting increased selling as prices stabilize.
Ned predicts silver will trade between $72 and $88, with a base case of $80 to $85. He highlights silver’s volatility, influenced by factors such as industrial demand and market stability.
Elliott states silver could move between $60 and $100. Market dynamics show cooling investment demand and ongoing supply deficits influencing prices.
Consider investing in gold and silver wisely.
For potential investors, there are various methods to invest in precious metals: physical bars and coins, stocks, ETFs, or gold IRAs. Financial experts generally advise limiting precious metals holdings to 5% to 10% of your portfolio. It’s essential to evaluate the benefits and drawbacks and consult a financial advisor to ensure alignment with your financial strategy.