06/08/2026
𝐖𝐞𝐞𝐤𝐥𝐲 𝐑𝐞𝐜𝐚𝐩 — 𝐄𝐯𝐞𝐫𝐲𝐭𝐡𝐢𝐧𝐠 𝐒𝐨𝐥𝐝 𝐎𝐟𝐟. 𝐋𝐞𝐭'𝐬 𝐓𝐚𝐥𝐤 𝐀𝐛𝐨𝐮𝐭 𝐖𝐡𝐲.
𝘐𝘵 𝘸𝘢𝘴 𝘢 𝘳𝘰𝘶𝘨𝘩 𝘸𝘦𝘦𝘬 𝘢𝘤𝘳𝘰𝘴𝘴 𝘵𝘩𝘦 𝘣𝘰𝘢𝘳𝘥 — 𝘨𝘰𝘭𝘥, 𝘴𝘪𝘭𝘷𝘦𝘳, 𝘴𝘵𝘰𝘤𝘬𝘴, 𝟰𝟬𝟭(𝘬)𝘴, 𝘤𝘳𝘺𝘱𝘵𝘰𝘴. 𝘓𝘦𝘵'𝘴 𝘣𝘳𝘦𝘢𝘬 𝘥𝘰𝘸𝘯 𝘸𝘩𝘢𝘵 𝘩𝘢𝘱𝘱𝘦𝘯𝘦𝘥 𝘢𝘯𝘥 𝘸𝘩𝘺.
𝐆𝐨𝐥𝐝 𝐌𝐚𝐫𝐤𝐞𝐭
Gold closed at $4,330.00, down $210.30 on the week (−4.6%). Month-to-date, gold is down 6.5% — giving back gains built up through April. The one bright spot: gold is still barely clinging to the green for the year, up just 0.2% YTD. It's walking a tightrope right now.
𝐒𝐢𝐥𝐯𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭
Silver closed at $67.97, down $7.44 on the week (−9.9%). This week marked something we haven't seen in a while — silver crossed into negative territory for the year, now down 5.2% YTD. Month-to-date, it's down 8.5%. Silver took the harder hit this week, as it often does when markets get rattled.
𝐆𝐨𝐥𝐝-𝐭𝐨-𝐒𝐢𝐥𝐯𝐞𝐫 𝐑𝐚𝐭𝐢𝐨: 64 Up from 60 last week.
Here's what that means in plain English: it now takes 64 ounces of silver to equal the value of one ounce of gold in the paper spot price. When this number rises, silver is losing ground faster than gold — which is exactly what happened this week.
𝐒𝐨 𝐖𝐡𝐚𝐭 𝐇𝐚𝐩𝐩𝐞𝐧𝐞𝐝?
Friday was the gut punch. A few things collided at once:
𝐓𝐡𝐞 𝐣𝐨𝐛𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐜𝐚𝐦𝐞 𝐢𝐧 𝐡𝐨𝐭.
• The economy added 172,000 jobs in May according to government data — more than double what most economic forecasters expected. That sounds like good news. And maybe it is.
• But in today's market, strong job numbers trigger a "good news is bad news" reaction. When the report dropped, the odds that the Fed could raise interest rates by year-end surged to around 70%.
• Higher rates make borrowing more expensive for companies — that hurts stocks and traders who leverage with debt. Higher rates also strengthen the dollar, which pushes metals prices down in most cases. It was a rough report for just about every asset class.
𝐓𝐫𝐞𝐚𝐬𝐮𝐫𝐲 𝐲𝐢𝐞𝐥𝐝𝐬 𝐬𝐩𝐢𝐤𝐞𝐝.
• The 10-year Treasury yield climbed above 4.5% and the 30-year topped 5%. U.S. Treasuries increased in selloffs.
• When bond yields jump like that, it makes bonds look more attractive than metals in the short term. Money moves. That puts additional pressure on gold and silver, along with other assets.
𝐓𝐡𝐞 𝐨𝐧𝐠𝐨𝐢𝐧𝐠 𝐰𝐚𝐫 𝐚𝐧𝐝 𝐨𝐢𝐥 𝐩𝐫𝐢𝐜𝐞𝐬.
• The U.S.-Iran conflict has kept oil elevated, even if prices at the pump have eased a bit from their peak a few weeks ago.
• Elevated oil costs mean inflation stays sticky. And when inflation stays sticky, the Fed has less reason to cut rates — or more reason to raise them. That backdrop made Friday's strong jobs report land even harder on metals.
𝐒𝐭𝐨𝐜𝐤𝐬 𝐚𝐧𝐝 𝐂𝐫𝐲𝐩𝐭𝐨 𝐠𝐨𝐭 𝐡𝐚𝐦𝐦𝐞𝐫𝐞𝐝 𝐭𝐨𝐨.
• The Nasdaq dropped over 4% — its worst day since early 2025.
• The S&P 500 fell 2.6% and the Dow dropped nearly 700 points on Friday alone.
• For the week, the S&P lost more than 2% and the Nasdaq shed nearly 4.7%.
• A lot of fear found its way into the Friday trading session, along with forced liquidations in various markets. The crypto market was especially hit hard this week, as Bitcoin dipped below $60k on Friday before regaining that level. Bitcoin is now down over 50% from its highs.
Many analysts are closely observing problems in global liquidity, making some comparisons to 1929 and the financial crises in 2008/2009. Cracks are forming in the financial system, and major shifts are occurring weekly.
𝐖𝐡𝐲 𝐃𝐢𝐝 𝐆𝐨𝐥𝐝 𝐚𝐧𝐝 𝐒𝐢𝐥𝐯𝐞𝐫 𝐅𝐚𝐥𝐥 𝐖𝐢𝐭𝐡 𝐒𝐭𝐨𝐜𝐤𝐬?
For most of financial history, metals and stocks moved in opposite directions. When stocks fell, gold rose. That relationship has flipped. Right now, metals are moving with the stock market, not against it.
Here's why: in high-pressure moments like this, big institutional traders — hedge funds, pension managers — sell whatever they can to raise cash fast. Gold and silver are liquid, easy to sell, and sitting on gains from the past year. So they go first in paper markets in many cases.. It's not that people have lost faith in metals. It's that the paper trading market moves on pressure, not conviction. Physical metal in your hand doesn't work that way. Nobody can force you to sell it.
𝐙𝐨𝐨𝐦 𝐎𝐮𝐭
• Weeks like this feel bad. We won't pretend otherwise. But let's not forget where we were a year ago. On June 5, 2025, gold closed at $3,361.19. Today it closed at $4,330.00. That's nearly $969 per ounce higher — a gain of about 29% in twelve months. Silver closed a year ago at $35.74. Today it closed at $67.97. Even after this week's drop, that's still nearly $32 per ounce higher — almost double where it was just one year ago.
• A year ago, the gold-to-silver ratio sat at 94.3. Today it's 64. Silver has quietly closed a massive gap on gold over the past twelve months, even with this week included.
The long-term reasons people hold physical metal haven't changed. There's no paper promise behind an ounce of gold. No counterparty risk. No margin call. The ounces you held at the start of this week are the same ounces you hold right now — the paper market had a rough Friday, but your metal didn't go anywhere. That's the whole point.
Questions? We're here. Come see us — weeks like this are exactly when it helps to have a real conversation.
🤝 Until next week, stack smart.
𝐓𝐰𝐢𝐧 𝐂𝐢𝐭𝐲 𝐆𝐨𝐥𝐝 & 𝐒𝐢𝐥𝐯𝐞𝐫 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞 in
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📍 𝟑𝟒𝟏𝟔 𝐑𝐢𝐜𝐡𝐦𝐨𝐧𝐝 𝐑𝐝, Texarkana, TX 75503
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𝐓𝐰𝐢𝐧 𝐂𝐢𝐭𝐲 𝐆𝐨𝐥𝐝 & 𝐒𝐢𝐥𝐯𝐞𝐫 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞 is not a registered investment advisor. Content is for informational purposes only and does not constitute investment advice.
