What will happen to gold and silver prices this June? Here’s what experts expect.

Gold and silver prices have fluctuated considerably since last fall. Gold prices set records almost monthly in 2025. The price climbed from $3,865 on October 1, 2025, past the $5,000 barrier for the first time in January before peaking near the end of the month. Silver’s price increase was even more impressive, soaring from $47 to its first-ever break above $100 per ounce and ultimately reaching $116 during that same period.

Unfortunately for current gold and silver investors, prices for both have reversed course since then. The current prices of gold and silver stand at $4,463 and $74 per ounce, respectively, as of May 25. Both prices represent double-digit declines from those January highs. 

Of course, there are significant factors contributing to the metals’ decline. The Iran war, for example, has pushed energy prices up and pulled some investor money away from traditional safe havens like gold. The Federal Reserve’s interest rate policy has also had an impact. For some investors, the possibility of higher rates for longer may make gold and silver look less appealing than interest-paying investments like bonds, certificates of deposit (CDs) and high-yield savings accounts.

The outlook for gold and silver is more encouraging when viewed over a longer timeline, however. Gold is still up 36% over the past 12 months and silver has climbed 133% over that period. After such a record-breaking run, a cooling may have been inevitable. As such, it may be wise to consider investing in gold and silver now before prices potentially rise again.

As the year reaches its midpoint, we asked precious metals experts what they expect for gold and silver this June and why. Below, we’ll break down what investors need to know.

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What will happen to gold prices this June, according to experts

Precious metals experts offer varying opinions about gold prices in June. That’s not surprising, given the current state of the market. These diverse perspectives help paint a more complete picture of the short-term outlook for gold.

“We forecast the gold price to decline from its current level between 0% and 5% in June,” saysThomas Winmill, portfolio manager at Midas Funds. “Typical analysis of seasonal data would suggest that in June and July, gold prices drift down due to a lull in global jewelry fabricator demand. These price-sensitive fabricators don’t normally restock gold until the autumn to meet demand for the October to March wedding season in Asia,” he says.

Of course, gold prices could also hold steady or rise in June. Deric Ned, founder and CEO of Gold Safe Exchange, expects gold prices to stay between $4,400 and $4,800 in June, but he anticipates prices rising later in the month. “My base case for June is $4,650 to $4,750,” Ned explains. “If the Iran situation escalates or the dollar rolls over, $4,800 plus is in play. If inflation prints hot again and the Fed gets hawkish, we retest $4,400, but I can’t really see a world or solid reason for gold breaking below that level with conviction.”

Ned points to three factors impacting gold prices right now: the effective closure of the Strait of Hormuz, continued central bank buying and the Federal Reserve’s interest rate policy. As for the latter, he said the Fed is “trapped,” with no good options. “April CPI came in hot, markets have fully priced out rate cuts for 2026, and some traders are now betting on a hike before year-end. Normally, that would crush gold, but it hasn’t,” Ned says. “I think this is going to look a lot like the stagflation of the 70s and 80s, which were also really, really good for gold.”

Brett Elliott, director of marketing at APMEX, sees a wide range ahead. “Past performance indicates the extremes are between $4,050 and $4,950 in June,” he says. “But it’s more likely the range is between $4,300 to $4,725, unless a major catalyst occurs between now and then.”

Elliott noted gold has been trading like a risk asset, which has “gained a strong negative correlation with oil as the Iran War has dragged on.” Investors think higher oil prices could lead to higher interest rates, which usually hurt gold prices. “The near-term outlook for gold is high volatility,” he says. “If hostilities reignite, we expect a drop in precious metal prices. If a peace deal is secured, gold could break to the upside. This is not the only factor, but it’s one of the most closely watched ones at the moment.”

Learn how to affordably invest in gold here.

What will happen to silver prices this June, according to experts

The experts we spoke to also have differing views on silver prices in June.

Winmill forecasts a 10% to 15% decline during the month, with investors selling as prices level off. “We expect de-hoarding supply from individuals and institutions to increase as sellers accept the current price plateau. Longer term, we are pessimistic that silver prices can remain near current levels.”

For his part, Ned expects silver to trade between $72 and $88 in June, with a base case of $80 to $85. “Silver runs hotter than gold both ways,” Ned says. “If we get any resolution on the Iran front and the dollar weakens, silver snaps back fast. Then getting back to $90 and holding there is a very realistic outcome. If industrial demand keeps softening and the Fed turns hawkish, $70 is on the table. But with the amount of demand for solar and AI infrastructure, I really don’t ever see silver trading below $60.”

According to Elliott, silver prices could “trade anywhere between $60 and $100, with more action between $70 and $90 than at the fringes.” The range is wide because silver is being pushed in opposite directions right now. Investment demand is cooling, which pushes the price down. Meanwhile, silver is still in short supply, and even though that shortage is shrinking, it continues to push the price up. “A shrinking deficit is still a deficit, and there’s no denying that silver stocks are thinner than they used to be,” Elliott says.

The bottom line

If you’re considering adding a slice of gold or silver to your portfolio, understand you have several options. You can buy physical gold and silver bars and coins, gold stocks, gold and silver ETFs and even gold IRAs. Keep in mind, many financial experts recommend limiting your precious metals allocation to no more than 5% to 10% of your portfolio. Consider the pros and cons before proceeding, too, and you might want to consult a trusted financial advisor to make sure your gold and silver investments align with your overall financial plan. If they do, buying now before prices move higher could make sense.