Silver Rises Over 120% YTD 
Gold retreated from earlier gains on Monday, settling around $3,415 per ounce—approximately $80 below its April record high. The Israel-Iran conflict, now in its fourth day with continued missile and drone exchanges, initially boosted gold prices but wasn’t enough to sustain the momentum. Last week saw a 3.7% increase in gold prices due to heightened geopolitical risks and concerns over President Trump’s aggressive tariff agenda threatening global economic growth.
The metal’s impressive 30% rise in 2025 reflects multiple factors: central banks diversifying away from the dollar, investors moving funds from US bonds to gold, and expectations of continued dollar weakness. A Bank of America survey revealed that shorting the US dollar is currently the most crowded trade among fund managers, which typically benefits gold by making it cheaper for international buyers.
