Trading and investing in precious metals in the second quarter of 2025 was characterised in the media as a series of price surges. Gold hit all-time highs five times in April alone, and as the Israel/Iran conflict worsened, silver on 17 and 18 June spent a couple of heady days above $37, a price unseen since mid-2011. Meanwhile, platinum surged through $1,000 on 20 May, $1,100 on 5 June, $1,200 on 9 June, $1,300 on 24 June, and briefly broke through $1,400 on 26 June (a.m.) before finishing the quarter at $1,350, a price not recorded since 18 September 2014. Supply issues were among the reasons put forward for this ... (full story)