In June 2025, gold futures showed strong performance on the New York Mercantile Exchange, rising by $101.5 on the 9th to settle at $3099.8 per ounce, marking a 3.39% increase. This rise was primarily driven by the sharp increase in U.S. Treasury yields. Investor concerns over the stability of the U.S. bond market led to a notable increase in demand for safe-haven assets, causing gold prices to surge.
Meanwhile, U.S. President Trump unexpectedly announced at noon that day a 90-day suspension of tariffs on countries that refrain from retaliatory tariffs and raised tariffs on China to 125%. This sudden policy announcement led to a surge in the three major U.S. stock indices, thereby alleviating the liquidity-driven sell-off pressure in the gold market over the past few days, further boosting gold prices.
Market analysts believe that the sell-off in the U.S. Treasury market may have more profound impacts, potentially continuing to support higher gold prices. Some analysts suggest that the rise in Treasury yields could force the Federal Reserve to adopt more aggressive rate-cut measures or even introduce new quantitative easing policies to lower bond yields.
The Federal Reserve released the minutes of its March monetary policy meeting on that day, showing that despite lingering economic uncertainties and inflationary pressures, the Fed is not in a hurry to relax interest rates. The minutes also noted that attendees expressed concerns about the impact of government policies on economic outlooks, emphasizing a need for caution.
Besides gold, silver futures also shone due to market factors. The price of silver futures for May delivery rose by 121.5 cents, closing at $30.965 per ounce, a 4.08% increase. This indicates a sustained strong demand for safe-haven assets, suggesting that the gold and silver markets are likely to remain active.
