Key highlights:

  • Gold climbed above $4,500 as precious metals added $1.3 trillion in combined market value
  • Silver outperformed gold, rising to around $66.94 with resistance near $67.50 and $68.00
  • CoinCodex projects gold at $5,590.03 and silver at $92.03 over the next month

Gold and Silver posted impressive gains after the U.S. Treasury announcement triggered a strong reaction across precious metals markets. Data shared by The Kobeissi Letter showed that gold and silver added a combined $1.3 trillion in market value following the announcement.

As investors moved toward hard assets amid concerns about rising bond yields and government debt costs. The reaction was immediate. Both metals climbed strongly over the session, with silver outperforming gold and pushing toward fresh highs.

Silver vs gold price chart

The gold price climbs above $4,500

The the gold price chart reveals buyers have been firmly in control. The gold price moved from around $4,300 to $4,523.05, marking a gain of roughly 5.2% from the period low. On the day alone, gold advanced 4.35%.

What stands out is the consistency of the move. The chart shows a steady sequence of higher highs and higher lows, with only small pauses along the way. Every time the price dipped, buyers jumped in. No real breakdown happened. The rally just kept going.

Now everyone's watching $4,523.05, that's the most recent high. If buyers push past it, $4,550 and $4,600 are the next stops. Support is starting to form around $4,500. If that fails, keep an eye on $4,480, then $4,460, and $4,440 below that.

The silver price leads the rally

Silver delivered an even stronger performance than gold. We had a look at the silver price chart, and the metal climbed from roughly $62.50 to $66.94, a gain of about 7.1%. The silver price also finished the session up 5.73%.

Like gold, the rally was orderly and consistent. Buyers keep stepping in every time the price dips. That's been stopping any real pullbacks from forming. First resistance is $66.94. Above that, $67.50 and $68.00 are next. If the momentum stays hot, $68.50 could also come into play.

On the downside, support starts at $66.50, then $66.00, $65.50, and $65.00 below that. One thing worth pointing out, silver is up more than gold percentage-wise. That's classic behavior in precious metals bull runs. Silver tends to move faster when things are going up, and that pattern showed up again this time around.

Why precious metals are moving higher

The catalyst came from the U.S. Treasury announcement that reignited concerns about government borrowing costs and the direction of bond yields.

The Kobeissi Letter argued that rising yields are becoming increasingly difficult to manage and that higher interest costs create additional pressure on government finances. When people start worrying about debt, inflation, or the dollar losing value, they tend to pile into gold and silver. 

And that's exactly what happened after the announcement. The combined market cap of gold and silver jumped by $1.3 trillion. That tells you everything, money moves into hard assets in a big way, and fast.

Where could the gold and silver price go next?

Gold just pushed back above $4,500 and is knocking on $4,523. If it breaks that, $4,550 and $4,600 are the next stops.Silver is doing the same thing. A move past $66.94 opens up $67.50 and $68.00. Both metals are making higher highs and higher lows. Gold is up 4.35%, silver is up 5.73%. 

According to CoinCodex’s 1-month gold price prediction, the price is projected to reach around $5,590.03, which is well above the current trading area near $4,500–$4,530. Meanwhile, the silver price forecast projects the metal to reach around $92.03.