Gold & Silver Continue To Flow Into The ETFs

Tuesday was a mixed day for the precious metals pricing, as both metals started selling off around 10 AM, and ultimately left the gold futures slightly higher on the day, and the silver futures slightly down on the day.

At the end of the session, the gold futures were up $8 to $3,727.

Next you can see how the silver futures had a sharp sell-off after reaching a new high for the current rally at $43.42.

Also of note is that the dollar index was down even further today, dropping 58 points to 96.31.

Given the move in the dollar index, I would imagine that there was some gold and silver profit-taking today to close out recent gains. Obviously, on a typical dollar down move of that size, that would usually leave the metals quite a bit higher. But to see this type of reaction after the rally of the past week is not entirely surprising.

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I mentioned yesterday that we would take a closer look at the gold and silver ETF inflows today, which show some significant institutional demand over the past few months, and really all of 2025, as well as the back half of 2024.