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The Trust seeks to reflect such performance before payment of the Trusts expenses and liabilities. It is not actively managed. The Trust does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of silver.

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La plata podría estar al borde de un gran movimiento. Tavi Costa detecta señales técnicas similares a las del repunte del platino.

La plata apunta a un gran repunte, advierte Tavi Costa de Crescat Capital

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To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Pressure To Cut Rates</h4>
Please click here for an enlarged chart of Tesla Inc (TSLA).
Note the following:
<ul class="wp-block-list">
<li>This article is about the big picture, not an individual stock.&nbsp; The chart of TSLA stock is being used to illustrate the point.</li>
<li>The chart shows the fall in TSLA stock after reporting earnings.</li>
<li>The chart shows that zone 2 (support) is far off.</li>
<li>RSI on the chart shows that TSLA stock is not oversold after the drop.</li>
<li>On the earnings conference call, Tesla&#8217;s CEO Elon Musk shared his ambition of Tesla producing 100K humanoid robots per month in five years.  Musk was also positive about the energy side of Tesla. Usually Musk's vision of the future of Tesla creates enough excitement for the stock market to ignore the deteriorating EV side of the business.  That is not the case this time.  In our analysis, this indicates the momo crowd is moving away from TSLA stock and into more speculative stocks.  </li>
<li>Alphabet&#8216;s earnings were strong.  Alphabet raised its capex budget.  In our analysis, this is positive for the AI story.  </li>
<li>Prudent investors need to be aware of several crosscurrents in the market today related to interest rates. 
<ul class="wp-block-list">
<li>President Trump is planning to visit the Federal Reserve ahead of the FOMC meeting next week.  This will be the first time in 20 years a president will visit the Fed.  Historically,  presidential visits were to endorse the Fed's work and independence.  President Trump's visit is expected to have the opposite tone given his threats to fire Fed Chair Powell and demands for the Fed to cut interest rates.</li>
<li>Treasury Secretary Scott Bessent shared his thoughts on some of the crosscurrents: 
<ul class="wp-block-list">
<li>The Fed should cut interest rates one or two times this year.</li>
<li>China will divest from U.S. Treasuries.</li>
<li>The Genius Act will increase demand for U.S. Treasuries.</li>
<li>A one time price increase from tariffs is not inflationary.</li>
</ul>
</li>
<li>The Treasury auction yesterday was good.&nbsp; Here are the results: 
<ul class="wp-block-list">
<li>$13B 20 year Treasury bond reopening</li>
<li>High yield: 4.935% (When-Issued: 4.951%)</li>
<li>Bid-to-cover: 2.79</li>
<li>Indirect bid: 67.4%</li>
<li>Direct bid: 21.9%</li>
</ul>
</li>
</ul>
</li>
<li>Initial jobless claims came at 217K vs. 225K consensus. This is very strong data and does not support a rate cut.</li>
<li>Hopes are high that a trade deal is close between the E.U. and U.S. with 15% tariffs.</li>
<li>Important earnings after hours today are from Intel Corp (INTC).</li>
<li>As an actionable item, the sum total of the foregoing is in our Protection Band, which strikes the optimum balance between various crosscurrents.</li>
</ul>
<h4 class="wp-block-heading">Japan</h4>
There is speculation that Prime Minister Ishiba will resign next month.&nbsp; The Japanese stock market has broken out.&nbsp; Please see <a href="https://www.benzinga.com/markets/equities/25/07/46580598/opportunity-in-japan-after-breakout-triggered-by-trade-deal-with-u-s-trump-ai-speech-ahead">yesterday's Morning Capsule</a>.&nbsp; Any political instability may cause the Japanese market to pull back to the Arora buy zone.&nbsp;
<h4 class="wp-block-heading">India</h4>
India and the U.K. have signed a trade deal.&nbsp; Expectations are high that India and the U.S. are also close to a trade deal.
India remains the top investment opportunity among emerging markets for long term investors.  As full disclosure, there are three India ETFs in our ZYX Emerging Model Portfolio. They are WisdomTree India Earnings Fund (EPI), iShares MSCI India Small-Cap ETF (SMIN), and VanEck India Growth Leaders ETF (GLIN).  As full disclosure, there is also an India focused fund Fairfax India Holdings Corp (FFXDF) in our ZYX Buy Core Model Portfolio.  We have a trade around position on FFXDF as well.
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in NVIDIA Corp (NVDA), Meta Platforms Inc (META), Amazon.com, Inc. (AMZN), and GOOG.
In the early trade, money flows are neutral in Apple Inc (AAPL) and Microsoft Corp (MSFT).
In the early trade, money flows are negative in TSLA.
In the early trade, money flows are neutral in SPDR S&amp;P 500 ETF Trust (SPY) and positive in Invesco QQQ Trust Series 1 (QQQ).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin is range bound.
<h4 class="wp-block-heading">Our Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.  Our proprietary Protection Band from puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

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Opinion

Trading Ideas

Trump To Visit Fed – A First For A President In 20 Years; Tough Road Ahead For Tesla

WIIM

Gold and silver are trading higher amid US dollar weakness.

Silver may be setting itself up for a major price move, according to Otavio &#8220;Tavi&#8221; Costa, a leading macro strategist at Crescat Capital.
Check out the current price of <a href="https://www.benzinga.com/quote/SLV" target="_blank" rel="noreferrer noopener">SLV stock here.</a>
What Happened: On Monday, in a post on X, Costa highlighted a technical signal for the precious metal, a surge in the lease rates, or the cost of borrowing silver for selling short.
He believes this echoes a similar pattern that was seen with Platinum just weeks before it broke out. &#8220;Silver lease rates are surging, just like platinum did before its major breakout a few weeks ago,&#8221; Costa said.
See Also: <a href="https://www.benzinga.com/markets/market-summary/25/07/46374536/wall-street-today-trump-eu-tariffs-gold-rallies-silver-bitcoin">Tariff Jitters Hit Stocks, Silver Jumps To 14-Year Highs: What&#8217;s Moving Markets Friday?</a>
&#8220;If it looks like a duck and quacks like a duck…&#8221; he says, implying that the market setup clearly imitates classic breakout scenarios seen with precious metals in the past.
Costa cites data from Bloomberg in his post that shows a spike in lease rates, which are now at a little over 6%, relative to its near-zero historic levels, hinting at tightening supply and growing investor demand.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Silver lease rates are surging, just like platinum did before its major breakout a few weeks ago. If you ask me: If it looks like a duck and quacks like a duck… <a href="https://t.co/H3l8bPmMNv">pic.twitter.com/H3l8bPmMNv</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1944941635659554984?ref_src=twsrc%5Etfw">July 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Last week, economist Peter Schiff made the case for <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46353081/bitcoin-can-easily-crash-buy-silver-instead-peter-schiff-says-silver-should-rise-much-more-downside-seems-limited">buying Silver over Bitcoin</a>, touting the former&#8217;s limited downside risks, and being on the cusp of its &#8220;next big leg up.&#8221;
&#8220;Even if Bitcoin keeps rising for a while, silver should rise much more. And while Bitcoin can easily crash, silver's downside seems very limited,&#8221; Schiff said.
Analysts have been increasingly bullish in recent months, pointing at the <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44994275/gold-now-worth-100x-more-than-silver-analysts-say-its-time-to-buy-the-underdog">gold-to-silver ratio</a> that breached 100:1, meaning that gold became worth 100 times more than silver per ounce. This is seen as a rare signal, that is often followed by an outperformance by Silver.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">ETFs</td>
<td class="has-text-align-center" data-align="center">Year-To-Date</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>)</td>
<td class="has-text-align-center" data-align="center">+28.59%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Global X Silver Miners ETF (ARCA: SIL)</td>
<td class="has-text-align-center" data-align="center">+52.20%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)</td>
<td class="has-text-align-center" data-align="center">+25.50%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>)</td>
<td class="has-text-align-center" data-align="center">+48.42%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: Over the past month, Silver has outperformed gold, rising 5.65%, compared to a 2% decline in the price of gold. Silver currently trades at $38.31 an ounce in the spot market, up 0.61% on Tuesday. 
<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="193" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15035540/Screenshot-2025-07-15-at-1.25.29-PM-1024x193.png" alt="" class="wp-image-985338" style="width:722px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15035540/Screenshot-2025-07-15-at-1.25.29-PM-1024x193.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15035540/Screenshot-2025-07-15-at-1.25.29-PM-300x57.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15035540/Screenshot-2025-07-15-at-1.25.29-PM-768x145.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/15035540/Screenshot-2025-07-15-at-1.25.29-PM.png 1176w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, the iShares Silver Trust has a strong Momentum of 82, with a favorable price trend in the short, medium and long term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the fund and its performance.
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/07/46401147/silver-etfs-just-crashed-golds-party-and-took-the-cake">Silver ETFs Just Crashed Gold&#8217;s Party— And Took The Cake</a></li>
</ul>
Photo courtesy: Shutterstock

Silver Lease Rates Echo Platinum's Pre-Breakout Move, Sparking Bullish Outlook: 'If It Looks Like A Duck And Quacks Like A Duck…'

As silver prices reach levels not seen in <a href="https://www.benzinga.com/markets/market-summary/25/07/46374536/wall-street-today-trump-eu-tariffs-gold-rallies-silver-bitcoin" target="_blank" rel="noopener">almost 14 years</a>, investors are not only stocking up on bars, but they&#8217;re also loading up on silver ETFs at a record pace. And the game is no longer about price momentum. Structural changes in demand, constricting physical supply, and gold&#8217;s rapidly unaffordable glamour are pointing capital toward <a href="https://www.benzinga.com/etfs">ETFs linked to silver</a>, the &#8220;poor man&#8217;s gold&#8221; that&#8217;s now enjoying a rich run.
Silver ETFs added more than 2,570 tons of the metal since February, Bloomberg data shows, and they are playing a central role in the most recent supply squeeze. The effect has been so sharp that it&#8217;s now tightening the physical silver market in London, the main vaulting center for ETF holdings, and driving borrowing rates for the metal to more than 6%, an astonishing spike from their typical near-zero level.
Also Read: <a href="https://www.benzinga.com/markets/commodities/25/07/46305133/central-banks-provide-gold-tailwinds-silver-gains-traction-platinum-pauses">Central Banks Provide Gold Tailwinds, Silver Gains Traction, Platinum Pauses</a>
<h2 class="wp-block-heading">ETF Buyers At The Forefront</h2>
While <a href="https://www.benzinga.com/topic/silver">physical silver markets </a>are constrained, silver ETFs are the investment of choice for both retail and institutional investors seeking to enjoy the rally. Let&#8217;s see how the top players compare:
iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>)
The heavy hitter in the silver ETF space, SLV, holds over 474 million ounces of silver and manages nearly $18 billion in assets under management (AUM). It follows the price of silver by maintaining physical bullion in vaults, providing a low-friction means to get exposure without the hassles of storage.
Why it matters: The largest and most liquid silver ETF, SLV, frequently serves as a barometer of investor sentiment towards the metal. The fund is up almost 30% this year so far.
Aberdeen Standard Physical Silver Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIVR#NYSE">SIVR</a>)
SIVR follows essentially the same approach as SLV, owning fully allocated physical silver, but draws more budget-price-conscious investors. At an expense ratio of 0.30%, versus SLV&#8217;s 0.50%, it has slowly gained a niche.
Why it&#8217;s important: Lower costs become more appealing in a high-inflation world where even slight differences in interest rates matter. Like SLV, the fund is up 30% so far this year.
Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>)
Those who want silver exposure but prefer the equity approach can achieve it via SIL, which offers access to a portfolio of international silver mining firms, including Fresnillo (OTCPK: FNLPF), Pan American Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>), and Hecla Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>).
Why it matters: Although mining stocks provide leverage to silver prices, they also carry company-specific and geopolitical risks. SIL is rising sharply this year as silver miners benefit from the bull run. The fund is up a good 53.5% this year.
<h2 class="wp-block-heading">What&#8217;s Driving The Demand?</h2>
A variety of forces are driving investor demand:
Relative value: Silver remains trading below its historic ratio to gold. At an 86 gold-to-silver ratio, silver could be undervalued, given that the number averages nearer to 80 over the past decade.
Trade tensions: The most recent round of threats of tariffs between the U.S. and Mexico, the globe&#8217;s leading silver producer, raised concerns about potential supply interruptions.
Industrial demand: Silver is an essential input for solar panels and electronics, making it have a special dual identity, both a precious metal and an industrial commodity.
Supply deficit: The Silver Institute estimates a fifth straight year of market deficit in 2025, as cited by Bloomberg, further solidifying the long-term investment thesis.
<h2 class="wp-block-heading">The Bigger Picture For ETF Flows</h2>
This year&#8217;s rally has transformed silver ETFs from quiet portfolio diversifiers into high-conviction trades. While gold ETFs have mostly recorded flat to negative inflows due to high prices and risk-off central bank sentiment, silver ETFs are attracting new money, courtesy of their lower entry price and more compelling upside story.
If silver continues to outpace gold, as it has to date in 2025, the pace of ETF flows will gain even more momentum, particularly for retail investors seeking exposure without exceeding their budgets.
Silver does not have the bling of gold, perhaps, but in the world of ETFs, it&#8217;s stealing the spotlight right now. Tightening physical supply and increasing investor appetite have turned silver ETFs from supporting actors to protagonists in the commodity resurrection.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/07/46398559/are-your-tesla-etfs-secretly-betting-on-elon-musks-ai-startup">Are Your Tesla ETFs Secretly Betting On Elon Musk's AI Startup?</a></li>
</ul>
Photo: Shutterstock

FNLPF

PAAS

SIVR

Silver ETFs Just Crashed Gold's Party— And Took The Cake

Gold and silver are trading higher amid tariff concerns, which could lift safe-haven assets.

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) just smashed past $113,000, marking yet another all-time high in a blockbuster year for crypto bulls. But perennial Bitcoin critic and gold advocate Peter Schiff has a different take: cash in on <a href="https://www.benzinga.com/crypto">crypto's parabolic run</a> and rotate into silver before the metal&#8217;s "next big leg up."
His advice, posted on X, may sound old-school, but there&#8217;s a method to the metallic madness.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With Bitcoin hitting new highs today (in dollars), it&#39;s a great time to sell some and buy silver ahead of silver&#39;s next big leg up. Even if Bitcoin keeps rising for a while, silver should rise much more. And while Bitcoin can easily crash, silver&#39;s downside seems very limited.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1943349876999246070?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Even if Bitcoin keeps rising for a while, silver should rise much more. And while Bitcoin can easily crash, silver&#8217;s downside seems very limited," said Schiff.
Read Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46345201/bitcoins-rally-to-112000-yes-its-different-this-time">Bitcoin&#8217;s Rally To $112,000: Yes, It&#8217;s Different This Time</a>
<h2 class="wp-block-heading">Bitcoin Vs. Silver: 2025's Tale Of Two Charts</h2>
So far in 2025, Bitcoin has surged 21.5%, driven by ETF inflows, institutional FOMO, and ongoing optimism about rate cuts. Meanwhile, silver &#8211; via the iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) &#8211; has risen a solid 25%, climbing from under $26 to above $33 per ounce.
Schiff, a long-time Bitcoin critic, believes the current momentum in crypto is speculative and unsustainable, pointing to silver's relative underperformance as an opportunity for value rotation. With Bitcoin hitting new highs and showing signs of overextension on technical charts, Schiff argues that silver's upside could now outpace Bitcoin's, especially if macro headwinds re-emerge.
5-year returns comparison:
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Asset</th>
<th>5-Year Return (approx.)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin</td>
<td>+1,128%</td>
</tr>
<tr>
<td>Silver</td>
<td>+96%</td>
</tr>
</tbody>
</table>
</figure>
Data Source: Google Finance
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="520" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141938/Screenshot-2025-07-10-at-11.49.12-PM-1024x520.png" alt="" class="wp-image-980593" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141938/Screenshot-2025-07-10-at-11.49.12-PM-1024x520.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141938/Screenshot-2025-07-10-at-11.49.12-PM-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141938/Screenshot-2025-07-10-at-11.49.12-PM-768x390.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141938/Screenshot-2025-07-10-at-11.49.12-PM.png 1129w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: TradingView
Silver's chart indicates bullish consolidation, characterized by rising volume and momentum indicators that are trending upward. The breakout above $36 just opened the door to the $40–$45 zone.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0710"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141953/Screenshot-2025-07-10-at-11.46.00-PM.png" alt="" class="wp-image-980594" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141953/Screenshot-2025-07-10-at-11.46.00-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10141953/Screenshot-2025-07-10-at-11.46.00-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0710">Chart created using Benzinga Pro</a>
Bitcoin, in contrast, shows a nearly overbought RSI (relative strength index) and divergence risk, suggesting a cooling phase may be near.
<h2 class="wp-block-heading">The &#8216;Rotation Trade&#8217; in Action</h2>
For investors who've ridden the Bitcoin wave, Schiff's logic is simple: take profits at the top, redeploy into an undervalued, real-asset hedge with industrial tailwinds and limited downside. Think of it as trading digital sizzle for tangible shine.
Is Schiff right? That depends on whether you believe crypto's current climb is the start of a new paradigm—or just another peak before the plunge.
Either way, silver's case is quietly strengthening. And Schiff isn't whispering &#8211; he's ringing the bell.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46348748/bitcoins-booming-coinbases-167-rally-says-told-you-so">Bitcoin&#8217;s Booming &#8211; Coinbase&#8217;s 167% Rally Says &#8216;Told You So&#8217;</a></li>
</ul>
Photo: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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'Bitcoin Can Easily Crash,' Buy Silver Instead, Peter Schiff Says - 'Silver Should Rise Much More, Downside Seems Limited'

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2025/07/1751976913294blob.jpg" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Strong Global Bull</h4>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-trump-tariffs-korea-japan-mc-07082025">click here</a> for an enlarged chart of Ishares Msci South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWY#NYSE">EWY</a>).
Note the following:
<ul class="wp-block-list">
<li>This article is about the big picture, not an individual ETF.&nbsp; The chart of EWY ETF is being used to illustrate the point.</li>
<li>The chart shows how strong the global bull is in stock markets across the world.</li>
</ul>
<ul class="wp-block-list">
<li>The chart shows that stocks in South Korea rallied after Trump imposed huge tariffs on South Korea.&nbsp; Stocks in Japan also rallied after Trump imposed huge tariffs on Japan.</li>
<li>The chart shows our buy signal near the April lows on Korea ETF EWY and huge gains since then that are beating the S&amp;P 500 (SPX).</li>
<li>By now, you may be asking why did the stocks rally in Korea and Japan after Trump imposed huge tariffs.&nbsp; There are three reasons: 
<ul class="wp-block-list">
<li>Global bull is very strong.&nbsp; In a strong bull market, markets focus on hope and ignore potential negatives.</li>
<li>Trump extended the deadline from July 9th to August 1st.</li>
<li>Trump is showing flexibility to extend the deadline beyond August 1st.</li>
</ul>
</li>
<li>The chart shows our signals to take profits in EWY prior to the big drop.  These and similar signals helped protect investors from the big drop in April.</li>
<li>In the early trade, there is buying in the U.S. stock market on optimism about Trump's flexibility.&nbsp; For the time being, the market is ignoring the negatives of tariffs.</li>
<li>Prudent investors should pay attention to interest rates that are inching up again ahead of Treasury auctions.  Treasury will conduct three-year auction today, ten-year auction tomorrow, and thirty-year auction on Thursday.  If auction results are good, expect the stock market to rally.  On the other hand, if an auction fails, there is significant downside risk.</li>
<li>The Fed minutes for the June meeting will be released at 2 pm tomorrow, and it may be market moving.</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Amazon.com, Inc. (AMZN), Alphabet Inc Class C (GOOG), Meta Platforms Inc ( META), NVIDIA Corp (NVDA), and Tesla Inc (TSLA).
In the early trade, money flows are neutral in Apple Inc (AAPL) and Microsoft Corp (MSFT).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin is seeing buying.
<h4 class="wp-block-heading">Arora Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.  Our proprietary Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors. 
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Government

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Global Bull Market Holds Strong Despite Tariff Moves On Korea And Japan; Treasury Auction Results May Steer Market Direction

Gold may have dominated headlines during the first half of 2025, rising more than 25%, but it is no longer the sole shiny option for investors. While gold&#8217;s sharp growth is starting to raise valuation questions, a more subdued shift is underway in silver, platinum, and even palladium. <a href="https://www.benzinga.com/etfs">ETFs that </a><a href="https://www.benzinga.com/etfs" target="_blank" rel="noopener">track these</a> less-watched metals are gaining popularity, driven by a combination of macroeconomic tailwinds, a weakening U.S. dollar, and speculation surrounding the Fed&#8217;s next move.
Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/07/46231169/these-etfs-gain-as-dollar-slips-and-rate-cut-bets-rise">These ETFs Gain As Dollar Slips And Rate Cut Bets Rise</a>
<h2 class="wp-block-heading">The Gold Standard, Still?</h2>
Gold&#8217;s rise has been impressive. The SPDR Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), the biggest and most liquid bullion-backed ETF, increased almost 26% year-to-date, even touching all-time highs in April. Its rally has been driven by rate-cut hopes, geopolitical tensions, and a dollar that&#8217;s lost 11%—its worst first-half performance in over three decades.
But there&#8217;s a caveat. RBC Capital Markets warned in April that gold may now be overpriced from a macroeconomic perspective. The rally, the analysts contend, has been fueled more by fear than by fundamentals. And fear, unlike bullion, doesn&#8217;t come with an ounce measurement.
Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/06/45869385/silvers-35-breakout-the-best-etfs-for-the-bullish-ride">Silver&#8217;s $35 Breakout: The Best ETFs For The Bullish Ride</a>
<h2 class="wp-block-heading">Platinum, Silver Step Into The Spotlight</h2>
While that&#8217;s happening, other precious metals are making their own comeback. Platinum leaped more than 26% in June alone. Constrained supply conditions and a jump in demand from Chinese jewelry markets have fueled the surge. Mix in speculative demand from both the U.S. and China, and you&#8217;ve got a metal playing catch-up.
Silver and palladium aren&#8217;t quiet either. The iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) and Sprott Physical Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSLV#NYSE">PSLV</a>) rose consistently as <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45847216/silver-supercycle-you-never-have-enough-of-it-hedge-fund-analyst-says-as-50-level-looms">investors search for discounted alternatives</a> to gold. Silver&#8217;s dual position as both an industrial metal and a precious metal lends it a unique appeal in the current climate, where inflation risk persists and economic statistics are mixed.
This volatile environment has generated a surge in interest in diversified and targeted metals ETFs. Prices of the Aberdeen Standard Physical Platinum Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPLT#NYSE">PPLT</a>) and Sprott Physical Platinum and Palladium Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPPP#NYSE">SPPP</a>) have shot up in the first half of this year, suggesting increased flows, while the Invesco DB Precious Metals Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBP#NYSE">DBP</a>), holding a blend of gold and silver futures, is growing in popularity among tactical asset allocators.
At the same time, multi-metal mining ETFs, such as the iShares MSCI Global Metals &amp; Mining Producers ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/PICK#BATS">PICK</a>), are gaining traction among investors seeking exposure to commodity prices indirectly through producers and refiners.
<h2 class="wp-block-heading">What&#8217;s Behind The Move?</h2>
Dollar Weakness: As the <a href="https://www.benzinga.com/topic/us-dollar">greenback </a>hits <a href="https://www.benzinga.com/markets/economic-data/25/06/46146713/trump-dollar-outlook-tariffs-debt">multi-decade lows</a>, dollar-denominated assets such as precious metals gain attractiveness.
Rate-Cut Buzz: Markets are expecting at least two Fed rate cuts this year, a situation that traditionally favors metal prices.
Valuation Catch-Up: Metals such as platinum remain significantly below all-time highs and are attractive on a relative basis.
<h2 class="wp-block-heading">From Gold to What's Next</h2>
If the first six months of 2025 belonged to gold, then the second half could be remembered for what comes after it. Whether it&#8217;s the breakout of silver, the rise of platinum, or a strategic blend of metals, ETF investors appear poised to diversify through uncertainty, one ounce at a time.
Read Next:<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46231393/trumps-tax-blitz-is-an-etf-game-changer-are-you-ready"> </a>
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/07/46231393/trumps-tax-blitz-is-an-etf-game-changer-are-you-ready">Trump&#8217;s Tax Blitz Is An ETF Game-Changer—Are You Ready?</a></li>
</ul>
Photo: Shutterstock

PICK

PPLT

PSLV

SPPP

Gold Isn't The Only Game In Town—Precious Metals ETFs Are Casting A Wider Net

General

Benzinga Market Summary: S&P Pulls Back As Trump Says US Is Terminating Trade Discussions With Canada, Gold And Silver Pull Back

Gold and silver are trading lower amid US-China trade hopes and Israel-Iran ceasefire efforts, which have eased macro uncertainty.

Silver is finally out of gold's shadow and investors should be paying attention. While gold prices hover near record highs, silver is quietly stealing the spotlight. <a href="https://www.benzinga.com/topic/peter-schiff">Peter Schiff</a> says the &#8220;gold rally has a silver lining.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi-Ho silver. Silver is up over 70 cents this morning, trading above $37. Not only is this very bullish for silver, but it&#39;s also bullish for gold. It&#39;s no longer just a gold rally, but a precious metals rally. Now that the gold rally has a silver lining, it&#39;ll be even stronger.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1934967497469689925?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Also: <a href="https://www.benzinga.com/markets/commodities/25/06/45842761/silver-just-shattered-a-14-year-ceiling-could-50-be-next">Silver Just Shattered A 14-Year Ceiling &#8211; Could $50 Be Next?</a>
<h2 class="wp-block-heading">Silver Outpaces Gold, Ratio Signals More Upside</h2>
On Tuesday, silver surged over 70 cents intraday to trade above $37, marking its highest level since 2012. That's a 2% daily gain, outshining gold's more modest 0.8% move. The silver-tracking iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) is up over 25%, while SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) has climbed around 14%, giving silver a 2-to-1 edge.
The gold-to-silver ratio has dropped sharply from over 90 in March to below 76 &#8211; historically a bullish setup for silver. In past cycles, a falling ratio has preceded major runs in silver miners.
<h2 class="wp-block-heading">Breakout Level Breached, Miners Ride The Wave</h2>
Silver also broke above key resistance at $35, a level it couldn't hold in 2020 or 2021. With that technical ceiling cleared, analysts are eyeing $40+ as the next stop.
Schiff called the move "a precious metals rally," and he's not alone. Stocks like First Majestic Silver Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>) and Pan American Silver Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>) are already rallying in tandem, buoyed by rising spot prices as momentum flows into silver.
While gold remains the classic hedge, silver offers both monetary and industrial upside. With AI, solar, and EV demand growing—and macro jitters rising—silver might be the surprise winner of 2025's commodity trade.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45847216/silver-supercycle-you-never-have-enough-of-it-hedge-fund-analyst-says-as-50-level-looms">Silver Supercycle: &#8216;You Never Have Enough Of It,&#8217; Hedge Fund Analyst Says As $50 Level Looms</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Peter Schiff Says 'The Gold Rally Has A Silver Lining' - As It Outperforms Gold By 2:1

On Monday, silver just did something it hasn&#8217;t managed to do in 14 years: <a href="https://www.benzinga.com/markets/commodities/25/06/45842761/silver-just-shattered-a-14-year-ceiling-could-50-be-next">break above the formidable $35 an ounce mark</a>. It&#8217;s now flirting with $36 and counting, after a powerful breakout from an eight-month base. For investors with a nose for historical déjà vu, this could echo the 2011 silver run that vaulted the metal to nearly $50 in just seven weeks. According to Katusa Research, this level was the springboard for a 36% moonshot in 2011. No two rallies are ever exactly alike, but the re-emergence of bullish sentiment, industrial demand and a structurally tight supply picture makes this breakout anything but noise.
This present rally is a structural, foundational and technical convergence. And for <a href="https://www.benzinga.com/etfs">ETF investors</a>, it could be the portfolio surprise that they did not anticipate.
So far in 2025, silver has clocked a +24% gain — and it&#8217;s only June.
<h1 class="wp-block-heading">ETF Ladder: Who&#8217;s Climbing Fastest?</h1>
Whether you're a cautious long-haul investor or a high-octane speculator, <a href="https://www.benzinga.com/topic/silver">silver-focused ETFs</a> are laying out a buffet of options. Here's a look at the key players on the ETF field: iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>)
Type: Physically-backed silver ETF YTD Return: +23%
Expense Ratio: 0.50% Use Case: Ideal for traditional investors who want direct exposure to silver prices without the complexities of futures or miners. ProShares Ultra Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGQ#NYSE">AGQ</a>)
Type: 2x leveraged silver futures exposure YTD Return: +39.5% (magnified gains… and potential losses)
Expense Ratio: 0.95% Use Case: Designed for traders looking to capitalize on short-term momentum. Volatile, fast-moving, and not for the faint-hearted. abrdn Physical Silver Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIVR#NYSE">SIVR</a>)
Type: Physically backed, low-cost silver ETF
YTD Return: +23% Expense Ratio: 0.30% Use Case: A more cost-efficient alternative to SLV for buy-and-hold investors. Amplify Junior Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SILJ#NYSE">SILJ</a>)
Type: Small-cap silver mining stocks
YTD Return: +41%
Expense Ratio: 0.69%
Use Case: High-risk, high-reward play for those betting big on rising silver prices boosting junior miners' margins. 
<h1 class="wp-block-heading">The Solar &amp; EV Story Behind The Sparkle</h1>
While gold often grabs the safe-haven spotlight, silver is increasingly a workhorse in the clean tech revolution. A large part of global silver demand comes from industrial use, particularly in solar panels, electric vehicles and next-gen electronics. Silver is unmatched in conductivity, making it indispensable in photovoltaic cells. And as the world speeds toward net-zero goals, solar installations are expected to surge, further tightening the silver supply/demand equation. Add to that five straight years of supply deficits, and you&#8217;ve got the recipe for a sustained rally. And here's the kicker — most silver isn't mined directly. It's a byproduct of other mining processes, meaning higher prices don't necessarily trigger a rush of new supply. Further weakness in the U.S. dollar, sticky inflation or dovish Fed chatter, accelerating solar and EV adoption, continued supply tightness and low mine production are factors that can further push silver prices up, and provide an impetus to the ETFs.
<h1 class="wp-block-heading">The Takeaway</h1>
For conservative exposure, SLV or SIVR do the trick. Feeling gutsy? AGQ might be your turbocharged ticket. Want to add some equity beta? Miners like SIL or SILJ bring company fundamentals into the mix. With silver making new headlines and ETFs lining up like rocket boosters, $50 might just be the next stop. Just remember, this is silver, not a sleepy savings bond. Buckle up.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/06/45865293/microsoft-overtakes-nvidia-to-top-3-5-trillion-taking-these-3-etfs-with-it">Microsoft Overtakes Nvidia To Top $3.5 Trillion, Taking These 3 ETFs With It</a></li>
</ul>
Photo: MIKE MANIATIS via Shutterstock

SILJ

Silver's $35 Breakout: The Best ETFs For The Bullish Ride

So far, 2025 has been a year where Precious Metals have been very much in focus.&nbsp;&nbsp;
GOLD&nbsp;
As it usually does, Gold took the lead in the broad precious metals rally, making new All-Time Highs and showing great strength. Gold's solid and continuous rally was driven primarily by:&nbsp;
<ul class="wp-block-list">
<li>Central bank buying (primarily China and India), which has been relentless throughout the past year or so.&nbsp;&nbsp;</li>
</ul>
<ul class="wp-block-list">
<li>Safe-haven demand driven by several reasons such as the US Tariffs, ongoing conflicts and generally heightened global tensions.&nbsp;</li>
</ul>
<ul class="wp-block-list">
<li>Increasing global debt which, unless somehow deficits get reduced, will keep growing at record pace and reduce the purchasing power of fiat currencies.&nbsp;</li>
</ul>
<ul class="wp-block-list">
<li>Retail investor interest, which has been increasing but still well below long-term averages.&nbsp;</li>
</ul>
Looking at Gold's daily chart, we can see that it's been rallying non-stop since its technical breakout in 2024. The macro factors that have contributed to Gold's rally are still there, and this implies a continued rise in price; however, nothing goes in a straight line and Gold will eventually see a pullback.&nbsp;
We are currently consolidating in a sideways wedge, and Gold will have to make an important decision pricewise. There is support confluence at around the $3270-$3285 area, below which the door opens for $3151. An extremely bearish scenario (perhaps inflation spiking or a general market crash) could take gold down towards the $2934 fib retracement. If we got down to those levels, it would probably be an exceptionally good opportunity to buy the dip.&nbsp;
On the flipside, if the resistance trendline is breached at around $3390-$3400, then the road clears for new all-time highs above $3500.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="773" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-1024x773.png" alt="" class="wp-image-14163" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
SILVER&nbsp;
Silver is a monetary asset like gold, but it also has extensive industrial use. For this reason, silver tends to react more to global geopolitical and economic news. Silver has underperformed gold for the past 15 years, with the Gold/Silver ratio rising from around 30 in mid-2011, to above 100 (beyond 126 in the 2020 Covid crisis and 105 in April 2025).&nbsp; History has shown that Gold leads and Silver follows, so this ratio should eventually reverse lower towards the 70s and perhaps even below.&nbsp;&nbsp;
Silver is used extensively in industry including electronics, photovoltaics, medicine, cars, photography, the military and many others. The global push towards EVs and green energy is requiring larger and larger quantities of physical silver, and this has brought a structural supply deficit for the past few years.&nbsp;
Barring a major global crisis, we should see silver outperform gold in the next months and the Gold/Silver ratio move down to test the 74-75 lows.&nbsp;
In the daily chart, we can see that silver is moving within an ascending channel, having taken out the previous highs at $35. The next resistance is at the channel resistance which comes at around $38.50. On the other hand, a reversal lower could drive silver towards the $31.5-$32 area.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="773" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-1024x773.png" alt="" class="wp-image-14164" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
PLATINUM&nbsp;
While most precious metals analysts and investors focus on Gold and Silver, Platinum could potentially yield an even better trading opportunity.&nbsp;
Platinum is roughly 15-20 times less abundant than gold in terms of mined output, and this makes it much rarer. In the first half of the 2000s the Platinum/Gold ratio was at around 2, but it quickly fell to 1 after the 2008 crisis. Platinum's main industrial use is in catalytic converters, and the gradual transition from internal combustion engine vehicles to EVs has caused platinum price to plummet during the past decade. The Platinum/Gold ratio bottomed at 0.275 in April 2025, and it has bounced back during the past month.&nbsp;
Government data and surveys are showing that electric vehicle adoption rates have been dropping, and this is very positive for platinum. While markets seem to be convinced that within the next decade almost all cars will be electric, I strongly disagree with that view. I think that internal combustion engines will be around for a lot longer and in large numbers, before they eventually get phased out. For this reason, I think that platinum potentially offers the most upside of all three precious metals.&nbsp;
Looking at the daily chart, we can see that platinum had been coiling within a wedge since early 2022, with a violent breakout coming in May 2025. At the time of writing platinum is trading at $1208 and is within reach of the $1223 fib level and the previous highs at $1339. On the flip side, a general risk-off move will likely pull platinum lower and we have confluence of supports at around the $1130-$1140 area.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="773" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-1024x773.png" alt="" class="wp-image-14165" style="width:916px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
SUMMARY
To sum up, I think that all three precious metals should continue to see strength in 2025 and 2026, but their recent surge higher has taken them close to resistance levels and a pullback is overdue. If and when such a pullback materializes, it should be met with buying forces as demand for physical intensifies. Platinum could provide the best upside potential followed by Silver, but high returns are often coupled with high volatility – so traders should be prepared for that and control risk accordingly.
Thank you for reading and trade safe.
Featured image generated with AI assistance

What's Next For Precious Metals

A silver &#8220;supercycle&#8221; may already be underway, as the structural market tightness and resurgent investor interest in the grey metal set the stage for a potential breakout above the all-time high of $50 per ounce last reached in 2011, according to Otavio Costa, macro strategist at <a href="https://www.benzinga.com/topic/expert-ideas">hedge fund Crescat Capital.</a>
"Silver is just catching up to gold," Costa said in an exclusive interview with Benzinga, noting that the metal's decade-long underperformance is poised to reverse.
Since early June, silver prices have surged over 10%, breaking above $36.80 on Monday and reaching levels last seen in February 2012. The iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) has now risen 25% year-to-date through June 9, perfectly matching SPDR Gold Trust&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) performance.
Costa indicated silver is now entering a critical phase that could resemble historical boom cycles.
<h3 class="wp-block-heading">Silver-To-Gold Ratio Signals More Room To Run</h3>
When gold leads, silver then follows. 
Silver is "the next one in line," Costa said.
The grey metal is trading at roughly 100 ounces per ounce of gold—a level Costa calls historically unsustainable and a clear setup for a sharp reversal.
"We've only seen this a few times in history," he said. "Every time, the ratio eventually collapses."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The gold-to-silver ratio is now breaking down as silver accelerates and begins to catch up with gold. Just a month ago, investors were telling me this time was different — that the ratio wouldn't revert and we were witnessing a structural shift. But notice the trend.… <a href="https://t.co/r4JE7gAoPt">pic.twitter.com/r4JE7gAoPt</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1932101773604307231?ref_src=twsrc%5Etfw">June 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to the expert, silver is now transitioning from being viewed strictly as an industrial commodity to being increasingly perceived as a monetary hedge—just as gold demand from central banks accelerates.
"Silver has been a monetary metal in the past, and once it starts moving higher, it becomes less of an industrial and much more of a monetary metal," he said.
<h3 class="wp-block-heading">Silver At $50? The Next Key Resistance</h3>
Costa told Benzinga that the metal's next technical battleground is the $50 threshold—a level reached during the 2011 rally and in the late 1970s Hunt Brothers episode.
"There's no such thing as a triple top," he said. 
"Once silver breaks $50, we enter price discovery. Nobody knows where it goes from there."
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="533" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-1024x533.png" alt="" class="wp-image-943788" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-1024x533.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-768x400.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-1536x800.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-2048x1066.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Market Dynamics Say Demand Sharply Outweighs Supply </h3>
Costa highlighted the lack of new silver discoveries and project development. "There are no major supply additions coming that will significantly alter the market in the next few years," he said.
At the same time, industrial demand—especially for solar panels—is rising rapidly.
"The demand factors have changed quite significantly," Costa said.
Solar now represents 15% to 17% of global silver demand, a sharp increase from the low single-digit percentages of just a few years ago.
Crescat Capital owns San Cristobal, one of the largest silver mines in the world, and Costa highlighted unusual pricing behavior in the physical market.
He said Chinese buyers have been paying premiums of $1 to $3 per ounce on silver concentrate over the past 6 to 12 months.
"That premium wasn't reflected in the futures market—but now we're starting to see it," he said.
"I'm already invested in silver. But you never have enough of it."
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/06/45842761/silver-just-shattered-a-14-year-ceiling-could-50-be-next">Silver Just Shattered A 14-Year Ceiling &#8211; Could $50 Be Next?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Silver Supercycle: 'You Never Have Enough Of It,' Hedge Fund Analyst Says As $50 Level Looms

<a href="https://www.benzinga.com/topic/silver">Silver has officially broken</a> through a 14-year ceiling by vaulting past $35 per ounce, a milestone it last cleared in 2011. That same breakout ignited a 36% surge to $49 over seven weeks, <a href="https://x.com/KatusaResearch/status/1931766766147149841">notes</a> Katusa Research. This time, history could very well repeat itself.
Today, spot silver is trading around $36/oz, marking an impressive +24% gain for 2025. The precious metal recently broke out of an eight-month base, touching $32.78/oz, and has been climbing steadily.
Supportive winds, such as a weakening U.S. dollar, robust industrial demand tied to solar tech, and five consecutive years of structural supply deficits, are fueling the rally.
Read Also: <a href="https://www.benzinga.com/markets/commodities/25/06/45792880/silver-hits-12-year-high-peter-schiff-says-rallys-just-starting">Silver Hits 12-Year High: Peter Schiff Says Rally&#8217;s Just Starting</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="558" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-1024x558.png" alt="" class="wp-image-943530" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM.png 1134w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart created using TradingView
Even <a href="https://in.tradingview.com/symbols/SILVER/technicals/">technicals</a> are giving a green light without getting too geeky. Almost every moving average &#8211; from the 10-day to the 200-day &#8211; is flashing bullish. Tools like the MACD (moving average convergence/divergence) and the Ultimate Oscillator are also nodding higher, hinting at stronger momentum ahead. 
The only caution sign is that the 20-day Commodity Channel Index is overbought, suggesting a brief pause might be in the cards—but nothing that changes the bullish story.
<h2 class="wp-block-heading">What's This Mean For Silver Investors?</h2>
Simple: silver isn't just a metal; it&#8217;s a portfolio play. 
If you're looking to ride the momentum, consider physical-metal funds like the iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) or the ProShares Ultra Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGQ#NYSE">AGQ</a>) if you&#8217;re feeling bold.
<h2 class="wp-block-heading">Eyes On $50?</h2>
Analysts see technical and fundamental runway up ahead. StoneX and WisdomTree strategists highlight silver's undervaluation relative to gold &#8211; the <a href="https://in.benzinga.com/economics/macro-economic-events/25/04/44994275/gold-now-worth-100x-more-than-silver-analysts-say-its-time-to-buy-the-underdog">gold/silver ratio</a> recently fell to 90, down from 105 in April.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="558" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-1024x558.png" alt="" class="wp-image-943547" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM.png 1134w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart created using TradingView
With this gap closing, many <a href="https://www.reuters.com/business/silver-surges-past-35oz-level-hit-more-than-13-year-high-2025-06-05/" target="_blank" rel="noopener">view</a> $36 as a checkpoint, which, once cleared (as it has been), could lead to a sprint toward $40 or even $50, particularly if solar and electric vehicle demand keeps scaling.
<h2 class="wp-block-heading">Why Now?</h2>
Unlike gold, most silver is mined as a byproduct, limiting production speed. That means even rising prices won&#8217;t instantly flood the market with new supply &#8211; sustaining the rally.
Add renewed industrial appetite and central bank buying; the package makes sense.
Silver has officially changed gears. The $35 breakout marks a fresh chapter &#8211; with bullish fundamentals, technical momentum, and ETF vehicles catering to every risk appetite. If silver repeats history, traders could see $50 in sight. But remember: quick surges can get bumpy. 
For those looking to play smart, SLV offers a smoother ride; aggressive players might edge into AGQ. Keep an eye on that $50 level—you never know when it will be in plain sight.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45585695/the-golden-ratios-silver-surprise-this-metals-price-could-double">The Golden Ratio&#8217;s Silver Surprise: This Metal&#8217;s Price Could Double</a></li>
</ul>
Photo: Shutterstock

Technicals

Silver Just Shattered A 14-Year Ceiling - Could $50 Be Next?

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2025/06/2025-06-09_08h54_09.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">China Hopium</h4>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-us-china-trade-talks-apple-wwdc-spy-mc-06092025">click here</a> for an enlarged chart of SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul class="wp-block-list">
<li>The chart shows the stock market is approaching the low band of zone 1 (resistance).</li>
<li>Zone 1 is the magnet for traders.</li>
<li>US China trade talks are continuing in London today.&nbsp; President Trump said the talks are very far advanced.</li>
<li>The momo crowd is aggressively buying stocks on hopium about China trade talks, the attraction of the zone 1 magnet, and the weekend pump.&nbsp; Retail investors are especially vulnerable to the weekend pump and buy on Monday mornings.</li>
<li>Prudent investors will be closely watching Treasury auctions this week as 30-year Treasury yields are near 5%.&nbsp; Demand was weak at the previous 20-year Treasury auction.</li>
<li>This morning, yields are rising.</li>
<li>President Trump is thinking about the next Fed Chair and the name of the next Fed Chair nominee is coming out very soon, according to President Trump.</li>
<li>President Trump wants Fed Chair Powell to cut interest rates by 100 basis points.</li>
<li>Even though the momo crowd is oblivious, prudent investors should pay attention to rising yields, pressure by President Trump on Fed Chair Powell, and Treasury auctions.&nbsp; Learning to interpret Treasury auctions can give investors an edge.</li>
<li>Apple Inc.&#8217;s (AAPL) Worldwide Developers Conference (WWDC) starts today.  Apple has been lagging behind in AI and has yet to deliver many of the Apple Intelligence features hyped at WWDC last year.  Investors are not expecting big news at WWDC this week. 
<ul class="wp-block-list">
<li>Developers are hoping for news about Apple's on-device, small AI models that would be faster than current cloud based AI models.&nbsp; However, the useful applications at this point will likely be limited as the on-device models are not yet sufficiently powerful.</li>
<li>Investors may remember how Apple extremely aggressively bought its own stock when AAPL stock fell on disappointment over the last WWDC.&nbsp; Apple's own buying produced a major run in AAPL stock.&nbsp; Will Apple do a repeat this year?</li>
</ul>
</li>
<li>Silver has broken out.  As full disclosure, there are nice profits on Silver ETF iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) in our ZYX Buy Core Model Portfolio.  A new signal may be given on silver for a trade around position.  Trade around positions are a billionaire and hedge fund technique to increase returns while dramatically reducing risks.</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Amazon.com, Inc. (AMZN), NVIDIA Corp (NVDA), Alphabet Inc Class C (GOOG), and Apple (AAPL).
In the early trade, money flows are neutral in Meta Platforms Inc (META).
In the early trade, money flows are negative in Microsoft Corp (MSFT) and Tesla Inc (TSLA).
In the early trade, money flows are positive in S&amp;P 500 ETF (SPY) and Invesco QQQ Trust Series 1 (QQQ).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (GLD).  The most popular ETF for silver is iShares Silver Trust (SLV).  The most popular ETF for oil is United States Oil ETF (USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing buying.
<h4 class="wp-block-heading">Arora Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.  Our proprietary Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Equities

Momo Crowd Buys Stocks On China Hopium And Zone 1 Magnet Ignoring Rise In Yields; Silver Breaks Out

Silver surged above $36 per ounce, reaching the highest level since February 2012. Since the beginning of the week, the metal has gained over 8.5%, sparking broad interest from investors who seek exposure to its industrial demand and <a href="https://www.benzinga.com/topic/silver">safe-haven potential</a>.
"After lagging behind gold for several weeks, silver is now catching up," Alexander Zumpfe, a senior trader at Heraeus Group, <a href="https://www.bloomberg.com/news/articles/2025-06-04/gold-holds-gain-as-soft-us-data-bolster-bets-on-fed-rate-cuts">told</a> Bloomberg. "That suggests renewed interest from momentum-driven investors who are rotating into silver."
Silver's dual role is driving its unique investment angle. Besides serving as a currency metal throughout the centuries, it is now essential in the manufacturing of solar panels, semiconductors, medical devices, and batteries.
With global decarbonization efforts accelerating, silver's industrial demand has surged, resulting in consecutive market deficits. According to the <a href="https://silverinstitute.org/wp-content/uploads/2025/04/World_Silver_Survey-2025.pdf">Silver Institute</a>, a 15% supply shortfall was reported in 2024, and another deficit is forecast for 2025. The world's top three silver-producing countries are Mexico, China, and Peru, which collectively account for over half of the global supply.
The silver rally has also impacted the <a href="https://www.benzinga.com/25/05/45585695/the-golden-ratios-silver-surprise-this-metals-price-could-double">gold-to-silver ratio</a>, a metric that measures the number of ounces of silver required to equal one ounce of gold. The ratio has narrowed to around 94 from over 100, suggesting silver's relative strengthening, although it still lags gold, which is up over 40% year-over-year.
"There may be some ratio trading going on now that it's dipped below the 100 level," noted Rhona O'Connell, head of market analysis at StoneX.
Exchange-traded funds have also contributed to the momentum. Silver ETFs saw inflows of over <a href="https://www.etf.com/etfanalytics/etf-fund-flows-tool">2.2 million ounces</a> in a single day this week, signaling renewed appetite from institutional investors. Analysts say a sustained hold above the $35 level could also attract retail interest, particularly if technical levels hold and supply constraints persist.
A Generational Technical Breakout In Progress
Zooming out, silver is completing a rare, long-term cup-and-handle pattern spanning over four decades. A rule of thumb is that longer, "U-shaped" patterns provide a more reliable signal than sharp "V-bottom" ones.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="435" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-1024x435.png" alt="" class="wp-image-941544" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-1024x435.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-300x128.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-768x326.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-1536x653.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-2048x870.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Silver Spot Price 1800-Present, Source: TradingView
The first parabolic peak in silver occurred in the early 1980s, when the Hunt brothers attempted to corner the silver market. Then a 2011 peak occurred post the Great Recession. Together, they have formed the "cup," with resistance around $50 per ounce.
Meanwhile, the "handle" formed from 2011 through 2024 as a multi-year consolidation. The breakout above the $30–$32 resistance zone in 2024–2025 suggests technical confirmation of the pattern. A typical guideline is to calculate the cup height and add it to the resistance zone price. Thus, with a cup height of around $40-42, the pattern's long-term target is around $75. 
On such a large timescale, the catalyst for the move is unlikely to be technical, but rather one that coincides with macroeconomic influences, particularly those stemming from monetary policy and geopolitical tensions.
Price Watch: iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) ETF is up 21.6% year-to-date.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/06/45812493/anglo-nears-de-beers-sale-as-three-potential-buyers-emerge">Anglo Nears De Beers Sale As Three Potential Buyers Emerge</a></li>
</ul>
Photo: Shutterstock

Silver Tops $36, Triggering A Generational Technical Breakout

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/06/05/final-trades-ulta-disney-gap-and-the-slv.html">Halftime Report Final Trades</a>,&#8221; Stephanie Link, chief investment strategist and portfolio manager at Hightower, said The Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) is down 33% in a week and recommended using the weakness to buy the stock. The stock trades at 9.7 times and has a dividend yield of 3.1%. 
Link said the clothing retailer reported a robust quarter that gained market share, and praised the new management as &#8220;phenomenal.&#8221;
Gap reported quarterly earnings of 51 cents per share on May 29, beating the consensus estimate of 45 cents. Quarterly revenue came in at $3.46 billion, beating the Street estimate of $3.42 billion.
Cerity Partners&#8217;s Jim Lebenthal said The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) has been in the $115 range. He expects the stock to break above $120.
As per the recent news, on June 4, Walt Disney lost its legal effort to prevent longtime executive Justin Connolly from leaving the company to join Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) YouTube.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Bill Baruch, founder and President of both Blue Line Capital and Blue Line Futures, picked iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>), saying silver reached the highest level since 2012.
On the earnings front, Westinghouse Air Brake, on April 23, reported better-than-expected first-quarter adjusted EPS results and raised its FY25 adjusted EPS guidance.
Brian G. Belski of BMO Capital Markets named Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) as his final trade.
Lending support to his choice, Ulta Beauty, on May 29, reported quarterly earnings of $6.70 per share, which beat the consensus estimate of $5.77 per share Quarterly revenue of $2.85 billion beat the Street estimate of $2.79 billion.
Price Action:
<ul class="wp-block-list">
<li>Gap shares gained 2.6% to close at $21.58 on Thursday.</li>
<li>Disney fell 0.9% to close at $112.53 on Thursday.</li>
<li>iShares Silver Trust gained 3.5% during the session.</li>
<li>Ulta Beauty shares rose 0.3% to settle at $467.04.</li>
</ul>
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Gap, Disney, Ulta Beauty And More On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: GAP, Ulta Beauty, Walt Disney Company, iShares Silver Trust

Silver's not just glittering &#8211; it's surging. <a href="https://www.benzinga.com/topic/silver">The white metal</a> rocketed past $35.60 an ounce Thursday, a level last seen in 2012, and gold bull Peter Schiff says it's just warming up. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I love the smell of a precious metals rally in the morning. Gold is above $3,400, but silver and platinum are up 4%. Not only is silver above $35, it&#39;s about to take out $36, trading at its highest level since Dec. 2012. This train has left the station and there&#39;s no stopping it!
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1930582432270741827?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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"This train has left the station and there's no stopping it," Schiff posted on X, noting silver's push to $36 and a 4% jump in early action.
While gold flirted with $3,400, it was silver that stole the spotlight, driven by a perfect storm of weak U.S. economic data, rising geopolitical tensions, and intensifying expectations of a Fed rate cut in September. The latest ADP report showed the weakest job growth since March 2023, and the ISM Services PMI fell into contraction territory <a href="http://www.benzinga.com/markets/market-summary/25/06/45788298/asia-markets-mixed-europe-gains-gold-inches-toward-all-time-high-global-markets-today-while-us-slept">for the first time</a> in nearly a year &#8211; fueling bets that the Fed will have little choice but to ease.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44994275/gold-now-worth-100x-more-than-silver-analysts-say-its-time-to-buy-the-underdog">Gold Now Worth 100x More Than Silver: Analysts Say It&#8217;s Time To Buy The Underdog</a>
<h2 class="wp-block-heading">Fed Doves And Trade Tensions Fan The Fire</h2>
It's not just macro softness driving this surge. The market is also reacting to Washington's tariff thunderclap &#8211; doubling import duties on <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45790624/exclusive-tariff-titans-why-cleveland-cliffs-nucor-steel-dynamics-could-outmuscle-the-competition">steel and aluminum to 50%</a> &#8211; raising fears of another trade slugfest just as investors react to a market-moving call between President Donald Trump and Chinese President Xi Jinping.
For silver, which straddles the line between precious metal and industrial workhorse, this is jet fuel. Whether it's flight to safety or hedging against inflation and trade turmoil, demand is coming from all corners.
<h2 class="wp-block-heading">SLV And Silver Miners Shine Bright</h2>
Retail investors are already piling in. The iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) (proxy for silver price) is up over 16% year-to-date and 14% over the past year, with technicals flashing green across the board. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0605"><img loading="lazy" decoding="async" width="631" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05085402/Screenshot-2025-06-05-at-6.23.50-PM.png" alt="" class="wp-image-939737" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05085402/Screenshot-2025-06-05-at-6.23.50-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05085402/Screenshot-2025-06-05-at-6.23.50-PM-300x231.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0605">Chart created using Benzinga Pro</a>
SLV is currently trading above its eight, 20, 50 and 200-day simple moving averages and maintains a bullish MACD (moving average convergence/divergence) indicator and an RSI (relative strength index) of 68.23.
For those seeking exposure to this breakout, silver miners like First Majestic Silver Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>), Pan American Silver Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>) and Wheaton Precious Metals Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>) are catching bids alongside the metal.
For diversified exposure, the Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) offers a direct line to the producers riding silver's high.
If Schiff's right and the rally's just beginning, silver bugs may have a lot more to smile about this summer.
Read Next: 
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<li><a href="https://www.benzinga.com/25/05/45585695/the-golden-ratios-silver-surprise-this-metals-price-could-double">The Golden Ratio&#8217;s Silver Surprise: This Metal&#8217;s Price Could Double</a></li>
</ul>
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