에 대한 최신 뉴스 iShares Silver Trust (ARCA:SLV)

The Trust seeks to reflect such performance before payment of the Trusts expenses and liabilities. It is not actively managed. The Trust does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of silver.

williams-sonoma inc

Emcor Group Inc Common Stock Usd 0.01

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Manhattan Associates Inc Common Stock Usd 0.01

Dynatrace Llc Second Lien

iShares Silver Trust

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지금까지 2025년은 귀금속에 대한 관심이 매우 높았던 한 해였다. 요약하자면 금, 은 그리고 백금 3가지 귀금속 모두 2025년과 2026년에도 강세를 이어갈 것으로 보이지만, 최근 급등으로 저항선에 근접해 하락이 불가피할 것으로 예상된다.

2025년 랠리로 주목받은 금·은·백금, 다음 움직임은?

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은 가격이 2011년에 마지막으로 돌파한 온스당 35달러를 넘어서며 공식적으로 14년 만에 고점을 돌파했다. 카투사 리서치(Katusa Research)는 이전에도 35달러를 돌파했을 때 7주 동안 은 가격이 49달러까지 36% 급등했었다거 지적했으며, 이번에도 역사가 반복될 가능성이 높다.

은 가격, 14년 만에 35달러 돌파···50달러 향할까?

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금 1온스는 이제 은 1온스의 100배 이상의 가치가 있다. 애널리스트들은 지난 세기 동안 단 차례밖에 볼 수 없었던 희귀한 불균형이 은에 대한 매수 신호로 번지고 있다고 말한다.2025년, 금은 글로벌 자산 클래스 중 확실한 리더로 부상하며 새로운 차원으로 치솟은 반면, 은은 눈에 띄게 뒤처져 있어 그 격차가 지속될 것으로 예상하는 사람은 거의 없다. 

금 가치, 은보다 100배 높아···애널리스트들 &#34;이제는 은 매수할 시기&#34;

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SILVERLAKE AXIS LTD ORD by Silverlake Axis, Ltd.

Sylvamo Corp

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Silver Mines Ltd

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SILVER STAR PROPERTIES by SILVER STAR PROPERTIES REIT, INC

Silver Star Properties REIT Inc

SILVER TIGER METALS INC by Silver Tiger Metals Inc.

Silver Tiger Metals Inc

Solvay SA

On Monday, silver just did something it hasn&#8217;t managed to do in 14 years: <a href="https://www.benzinga.com/markets/commodities/25/06/45842761/silver-just-shattered-a-14-year-ceiling-could-50-be-next">break above the formidable $35 an ounce mark</a>. It&#8217;s now flirting with $36 and counting, after a powerful breakout from an eight-month base. For investors with a nose for historical déjà vu, this could echo the 2011 silver run that vaulted the metal to nearly $50 in just seven weeks. According to Katusa Research, this level was the springboard for a 36% moonshot in 2011. No two rallies are ever exactly alike, but the re-emergence of bullish sentiment, industrial demand and a structurally tight supply picture makes this breakout anything but noise.
This present rally is a structural, foundational and technical convergence. And for <a href="https://www.benzinga.com/etfs">ETF investors</a>, it could be the portfolio surprise that they did not anticipate.
So far in 2025, silver has clocked a +24% gain — and it&#8217;s only June.
<h1 class="wp-block-heading">ETF Ladder: Who&#8217;s Climbing Fastest?</h1>
Whether you're a cautious long-haul investor or a high-octane speculator, <a href="https://www.benzinga.com/topic/silver">silver-focused ETFs</a> are laying out a buffet of options. Here's a look at the key players on the ETF field: iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>)
Type: Physically-backed silver ETF YTD Return: +23%
Expense Ratio: 0.50% Use Case: Ideal for traditional investors who want direct exposure to silver prices without the complexities of futures or miners. ProShares Ultra Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGQ#NYSE">AGQ</a>)
Type: 2x leveraged silver futures exposure YTD Return: +39.5% (magnified gains… and potential losses)
Expense Ratio: 0.95% Use Case: Designed for traders looking to capitalize on short-term momentum. Volatile, fast-moving, and not for the faint-hearted. abrdn Physical Silver Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIVR#NYSE">SIVR</a>)
Type: Physically backed, low-cost silver ETF
YTD Return: +23% Expense Ratio: 0.30% Use Case: A more cost-efficient alternative to SLV for buy-and-hold investors. Amplify Junior Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SILJ#NYSE">SILJ</a>)
Type: Small-cap silver mining stocks
YTD Return: +41%
Expense Ratio: 0.69%
Use Case: High-risk, high-reward play for those betting big on rising silver prices boosting junior miners' margins. 
<h1 class="wp-block-heading">The Solar &amp; EV Story Behind The Sparkle</h1>
While gold often grabs the safe-haven spotlight, silver is increasingly a workhorse in the clean tech revolution. A large part of global silver demand comes from industrial use, particularly in solar panels, electric vehicles and next-gen electronics. Silver is unmatched in conductivity, making it indispensable in photovoltaic cells. And as the world speeds toward net-zero goals, solar installations are expected to surge, further tightening the silver supply/demand equation. Add to that five straight years of supply deficits, and you&#8217;ve got the recipe for a sustained rally. And here's the kicker — most silver isn't mined directly. It's a byproduct of other mining processes, meaning higher prices don't necessarily trigger a rush of new supply. Further weakness in the U.S. dollar, sticky inflation or dovish Fed chatter, accelerating solar and EV adoption, continued supply tightness and low mine production are factors that can further push silver prices up, and provide an impetus to the ETFs.
<h1 class="wp-block-heading">The Takeaway</h1>
For conservative exposure, SLV or SIVR do the trick. Feeling gutsy? AGQ might be your turbocharged ticket. Want to add some equity beta? Miners like SIL or SILJ bring company fundamentals into the mix. With silver making new headlines and ETFs lining up like rocket boosters, $50 might just be the next stop. Just remember, this is silver, not a sleepy savings bond. Buckle up.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/06/45865293/microsoft-overtakes-nvidia-to-top-3-5-trillion-taking-these-3-etfs-with-it">Microsoft Overtakes Nvidia To Top $3.5 Trillion, Taking These 3 ETFs With It</a></li>
</ul>
Photo: MIKE MANIATIS via Shutterstock

SILJ

SIVR

Silver's $35 Breakout: The Best ETFs For The Bullish Ride

So far, 2025 has been a year where Precious Metals have been very much in focus.&nbsp;&nbsp;
GOLD&nbsp;
As it usually does, Gold took the lead in the broad precious metals rally, making new All-Time Highs and showing great strength. Gold's solid and continuous rally was driven primarily by:&nbsp;
<ul class="wp-block-list">
<li>Central bank buying (primarily China and India), which has been relentless throughout the past year or so.&nbsp;&nbsp;</li>
</ul>
<ul class="wp-block-list">
<li>Safe-haven demand driven by several reasons such as the US Tariffs, ongoing conflicts and generally heightened global tensions.&nbsp;</li>
</ul>
<ul class="wp-block-list">
<li>Increasing global debt which, unless somehow deficits get reduced, will keep growing at record pace and reduce the purchasing power of fiat currencies.&nbsp;</li>
</ul>
<ul class="wp-block-list">
<li>Retail investor interest, which has been increasing but still well below long-term averages.&nbsp;</li>
</ul>
Looking at Gold's daily chart, we can see that it's been rallying non-stop since its technical breakout in 2024. The macro factors that have contributed to Gold's rally are still there, and this implies a continued rise in price; however, nothing goes in a straight line and Gold will eventually see a pullback.&nbsp;
We are currently consolidating in a sideways wedge, and Gold will have to make an important decision pricewise. There is support confluence at around the $3270-$3285 area, below which the door opens for $3151. An extremely bearish scenario (perhaps inflation spiking or a general market crash) could take gold down towards the $2934 fib retracement. If we got down to those levels, it would probably be an exceptionally good opportunity to buy the dip.&nbsp;
On the flipside, if the resistance trendline is breached at around $3390-$3400, then the road clears for new all-time highs above $3500.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="773" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-1024x773.png" alt="" class="wp-image-14163" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
SILVER&nbsp;
Silver is a monetary asset like gold, but it also has extensive industrial use. For this reason, silver tends to react more to global geopolitical and economic news. Silver has underperformed gold for the past 15 years, with the Gold/Silver ratio rising from around 30 in mid-2011, to above 100 (beyond 126 in the 2020 Covid crisis and 105 in April 2025).&nbsp; History has shown that Gold leads and Silver follows, so this ratio should eventually reverse lower towards the 70s and perhaps even below.&nbsp;&nbsp;
Silver is used extensively in industry including electronics, photovoltaics, medicine, cars, photography, the military and many others. The global push towards EVs and green energy is requiring larger and larger quantities of physical silver, and this has brought a structural supply deficit for the past few years.&nbsp;
Barring a major global crisis, we should see silver outperform gold in the next months and the Gold/Silver ratio move down to test the 74-75 lows.&nbsp;
In the daily chart, we can see that silver is moving within an ascending channel, having taken out the previous highs at $35. The next resistance is at the channel resistance which comes at around $38.50. On the other hand, a reversal lower could drive silver towards the $31.5-$32 area.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="773" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-1024x773.png" alt="" class="wp-image-14164" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
PLATINUM&nbsp;
While most precious metals analysts and investors focus on Gold and Silver, Platinum could potentially yield an even better trading opportunity.&nbsp;
Platinum is roughly 15-20 times less abundant than gold in terms of mined output, and this makes it much rarer. In the first half of the 2000s the Platinum/Gold ratio was at around 2, but it quickly fell to 1 after the 2008 crisis. Platinum's main industrial use is in catalytic converters, and the gradual transition from internal combustion engine vehicles to EVs has caused platinum price to plummet during the past decade. The Platinum/Gold ratio bottomed at 0.275 in April 2025, and it has bounced back during the past month.&nbsp;
Government data and surveys are showing that electric vehicle adoption rates have been dropping, and this is very positive for platinum. While markets seem to be convinced that within the next decade almost all cars will be electric, I strongly disagree with that view. I think that internal combustion engines will be around for a lot longer and in large numbers, before they eventually get phased out. For this reason, I think that platinum potentially offers the most upside of all three precious metals.&nbsp;
Looking at the daily chart, we can see that platinum had been coiling within a wedge since early 2022, with a violent breakout coming in May 2025. At the time of writing platinum is trading at $1208 and is within reach of the $1223 fib level and the previous highs at $1339. On the flip side, a general risk-off move will likely pull platinum lower and we have confluence of supports at around the $1130-$1140 area.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="773" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-1024x773.png" alt="" class="wp-image-14165" style="width:916px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
SUMMARY
To sum up, I think that all three precious metals should continue to see strength in 2025 and 2026, but their recent surge higher has taken them close to resistance levels and a pullback is overdue. If and when such a pullback materializes, it should be met with buying forces as demand for physical intensifies. Platinum could provide the best upside potential followed by Silver, but high returns are often coupled with high volatility – so traders should be prepared for that and control risk accordingly.
Thank you for reading and trade safe.
Featured image generated with AI assistance

What's Next For Precious Metals

A silver &#8220;supercycle&#8221; may already be underway, as the structural market tightness and resurgent investor interest in the grey metal set the stage for a potential breakout above the all-time high of $50 per ounce last reached in 2011, according to Otavio Costa, macro strategist at <a href="https://www.benzinga.com/topic/expert-ideas">hedge fund Crescat Capital.</a>
"Silver is just catching up to gold," Costa said in an exclusive interview with Benzinga, noting that the metal's decade-long underperformance is poised to reverse.
Since early June, silver prices have surged over 10%, breaking above $36.80 on Monday and reaching levels last seen in February 2012. The iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) has now risen 25% year-to-date through June 9, perfectly matching SPDR Gold Trust&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) performance.
Costa indicated silver is now entering a critical phase that could resemble historical boom cycles.
<h3 class="wp-block-heading">Silver-To-Gold Ratio Signals More Room To Run</h3>
When gold leads, silver then follows. 
Silver is "the next one in line," Costa said.
The grey metal is trading at roughly 100 ounces per ounce of gold—a level Costa calls historically unsustainable and a clear setup for a sharp reversal.
"We've only seen this a few times in history," he said. "Every time, the ratio eventually collapses."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The gold-to-silver ratio is now breaking down as silver accelerates and begins to catch up with gold. Just a month ago, investors were telling me this time was different — that the ratio wouldn't revert and we were witnessing a structural shift. But notice the trend.… <a href="https://t.co/r4JE7gAoPt">pic.twitter.com/r4JE7gAoPt</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1932101773604307231?ref_src=twsrc%5Etfw">June 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to the expert, silver is now transitioning from being viewed strictly as an industrial commodity to being increasingly perceived as a monetary hedge—just as gold demand from central banks accelerates.
"Silver has been a monetary metal in the past, and once it starts moving higher, it becomes less of an industrial and much more of a monetary metal," he said.
<h3 class="wp-block-heading">Silver At $50? The Next Key Resistance</h3>
Costa told Benzinga that the metal's next technical battleground is the $50 threshold—a level reached during the 2011 rally and in the late 1970s Hunt Brothers episode.
"There's no such thing as a triple top," he said. 
"Once silver breaks $50, we enter price discovery. Nobody knows where it goes from there."
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="533" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-1024x533.png" alt="" class="wp-image-943788" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-1024x533.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-768x400.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-1536x800.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09151054/image-127-2048x1066.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Market Dynamics Say Demand Sharply Outweighs Supply </h3>
Costa highlighted the lack of new silver discoveries and project development. "There are no major supply additions coming that will significantly alter the market in the next few years," he said.
At the same time, industrial demand—especially for solar panels—is rising rapidly.
"The demand factors have changed quite significantly," Costa said.
Solar now represents 15% to 17% of global silver demand, a sharp increase from the low single-digit percentages of just a few years ago.
Crescat Capital owns San Cristobal, one of the largest silver mines in the world, and Costa highlighted unusual pricing behavior in the physical market.
He said Chinese buyers have been paying premiums of $1 to $3 per ounce on silver concentrate over the past 6 to 12 months.
"That premium wasn't reflected in the futures market—but now we're starting to see it," he said.
"I'm already invested in silver. But you never have enough of it."
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/06/45842761/silver-just-shattered-a-14-year-ceiling-could-50-be-next">Silver Just Shattered A 14-Year Ceiling &#8211; Could $50 Be Next?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Silver Supercycle: 'You Never Have Enough Of It,' Hedge Fund Analyst Says As $50 Level Looms

<a href="https://www.benzinga.com/topic/silver">Silver has officially broken</a> through a 14-year ceiling by vaulting past $35 per ounce, a milestone it last cleared in 2011. That same breakout ignited a 36% surge to $49 over seven weeks, <a href="https://x.com/KatusaResearch/status/1931766766147149841">notes</a> Katusa Research. This time, history could very well repeat itself.
Today, spot silver is trading around $36/oz, marking an impressive +24% gain for 2025. The precious metal recently broke out of an eight-month base, touching $32.78/oz, and has been climbing steadily.
Supportive winds, such as a weakening U.S. dollar, robust industrial demand tied to solar tech, and five consecutive years of structural supply deficits, are fueling the rally.
Read Also: <a href="https://www.benzinga.com/markets/commodities/25/06/45792880/silver-hits-12-year-high-peter-schiff-says-rallys-just-starting">Silver Hits 12-Year High: Peter Schiff Says Rally&#8217;s Just Starting</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="558" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-1024x558.png" alt="" class="wp-image-943530" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM.png 1134w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart created using TradingView
Even <a href="https://in.tradingview.com/symbols/SILVER/technicals/">technicals</a> are giving a green light without getting too geeky. Almost every moving average &#8211; from the 10-day to the 200-day &#8211; is flashing bullish. Tools like the MACD (moving average convergence/divergence) and the Ultimate Oscillator are also nodding higher, hinting at stronger momentum ahead. 
The only caution sign is that the 20-day Commodity Channel Index is overbought, suggesting a brief pause might be in the cards—but nothing that changes the bullish story.
<h2 class="wp-block-heading">What's This Mean For Silver Investors?</h2>
Simple: silver isn't just a metal; it&#8217;s a portfolio play. 
If you're looking to ride the momentum, consider physical-metal funds like the iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) or the ProShares Ultra Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGQ#NYSE">AGQ</a>) if you&#8217;re feeling bold.
<h2 class="wp-block-heading">Eyes On $50?</h2>
Analysts see technical and fundamental runway up ahead. StoneX and WisdomTree strategists highlight silver's undervaluation relative to gold &#8211; the <a href="https://in.benzinga.com/economics/macro-economic-events/25/04/44994275/gold-now-worth-100x-more-than-silver-analysts-say-its-time-to-buy-the-underdog">gold/silver ratio</a> recently fell to 90, down from 105 in April.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="558" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-1024x558.png" alt="" class="wp-image-943547" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM.png 1134w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart created using TradingView
With this gap closing, many <a href="https://www.reuters.com/business/silver-surges-past-35oz-level-hit-more-than-13-year-high-2025-06-05/" target="_blank" rel="noopener">view</a> $36 as a checkpoint, which, once cleared (as it has been), could lead to a sprint toward $40 or even $50, particularly if solar and electric vehicle demand keeps scaling.
<h2 class="wp-block-heading">Why Now?</h2>
Unlike gold, most silver is mined as a byproduct, limiting production speed. That means even rising prices won&#8217;t instantly flood the market with new supply &#8211; sustaining the rally.
Add renewed industrial appetite and central bank buying; the package makes sense.
Silver has officially changed gears. The $35 breakout marks a fresh chapter &#8211; with bullish fundamentals, technical momentum, and ETF vehicles catering to every risk appetite. If silver repeats history, traders could see $50 in sight. But remember: quick surges can get bumpy. 
For those looking to play smart, SLV offers a smoother ride; aggressive players might edge into AGQ. Keep an eye on that $50 level—you never know when it will be in plain sight.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45585695/the-golden-ratios-silver-surprise-this-metals-price-could-double">The Golden Ratio&#8217;s Silver Surprise: This Metal&#8217;s Price Could Double</a></li>
</ul>
Photo: Shutterstock

Silver Just Shattered A 14-Year Ceiling - Could $50 Be Next?

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2025/06/2025-06-09_08h54_09.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">China Hopium</h4>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-us-china-trade-talks-apple-wwdc-spy-mc-06092025">click here</a> for an enlarged chart of SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul class="wp-block-list">
<li>The chart shows the stock market is approaching the low band of zone 1 (resistance).</li>
<li>Zone 1 is the magnet for traders.</li>
<li>US China trade talks are continuing in London today.&nbsp; President Trump said the talks are very far advanced.</li>
<li>The momo crowd is aggressively buying stocks on hopium about China trade talks, the attraction of the zone 1 magnet, and the weekend pump.&nbsp; Retail investors are especially vulnerable to the weekend pump and buy on Monday mornings.</li>
<li>Prudent investors will be closely watching Treasury auctions this week as 30-year Treasury yields are near 5%.&nbsp; Demand was weak at the previous 20-year Treasury auction.</li>
<li>This morning, yields are rising.</li>
<li>President Trump is thinking about the next Fed Chair and the name of the next Fed Chair nominee is coming out very soon, according to President Trump.</li>
<li>President Trump wants Fed Chair Powell to cut interest rates by 100 basis points.</li>
<li>Even though the momo crowd is oblivious, prudent investors should pay attention to rising yields, pressure by President Trump on Fed Chair Powell, and Treasury auctions.&nbsp; Learning to interpret Treasury auctions can give investors an edge.</li>
<li>Apple Inc.&#8217;s (AAPL) Worldwide Developers Conference (WWDC) starts today.  Apple has been lagging behind in AI and has yet to deliver many of the Apple Intelligence features hyped at WWDC last year.  Investors are not expecting big news at WWDC this week. 
<ul class="wp-block-list">
<li>Developers are hoping for news about Apple's on-device, small AI models that would be faster than current cloud based AI models.&nbsp; However, the useful applications at this point will likely be limited as the on-device models are not yet sufficiently powerful.</li>
<li>Investors may remember how Apple extremely aggressively bought its own stock when AAPL stock fell on disappointment over the last WWDC.&nbsp; Apple's own buying produced a major run in AAPL stock.&nbsp; Will Apple do a repeat this year?</li>
</ul>
</li>
<li>Silver has broken out.  As full disclosure, there are nice profits on Silver ETF iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) in our ZYX Buy Core Model Portfolio.  A new signal may be given on silver for a trade around position.  Trade around positions are a billionaire and hedge fund technique to increase returns while dramatically reducing risks.</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Amazon.com, Inc. (AMZN), NVIDIA Corp (NVDA), Alphabet Inc Class C (GOOG), and Apple (AAPL).
In the early trade, money flows are neutral in Meta Platforms Inc (META).
In the early trade, money flows are negative in Microsoft Corp (MSFT) and Tesla Inc (TSLA).
In the early trade, money flows are positive in S&amp;P 500 ETF (SPY) and Invesco QQQ Trust Series 1 (QQQ).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (GLD).  The most popular ETF for silver is iShares Silver Trust (SLV).  The most popular ETF for oil is United States Oil ETF (USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing buying.
<h4 class="wp-block-heading">Arora Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.  Our proprietary Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Equities

Market Summary

Broad U.S. Equity ETFs

$BTC

Momo Crowd Buys Stocks On China Hopium And Zone 1 Magnet Ignoring Rise In Yields; Silver Breaks Out

Silver surged above $36 per ounce, reaching the highest level since February 2012. Since the beginning of the week, the metal has gained over 8.5%, sparking broad interest from investors who seek exposure to its industrial demand and <a href="https://www.benzinga.com/topic/silver">safe-haven potential</a>.
"After lagging behind gold for several weeks, silver is now catching up," Alexander Zumpfe, a senior trader at Heraeus Group, <a href="https://www.bloomberg.com/news/articles/2025-06-04/gold-holds-gain-as-soft-us-data-bolster-bets-on-fed-rate-cuts">told</a> Bloomberg. "That suggests renewed interest from momentum-driven investors who are rotating into silver."
Silver's dual role is driving its unique investment angle. Besides serving as a currency metal throughout the centuries, it is now essential in the manufacturing of solar panels, semiconductors, medical devices, and batteries.
With global decarbonization efforts accelerating, silver's industrial demand has surged, resulting in consecutive market deficits. According to the <a href="https://silverinstitute.org/wp-content/uploads/2025/04/World_Silver_Survey-2025.pdf">Silver Institute</a>, a 15% supply shortfall was reported in 2024, and another deficit is forecast for 2025. The world's top three silver-producing countries are Mexico, China, and Peru, which collectively account for over half of the global supply.
The silver rally has also impacted the <a href="https://www.benzinga.com/25/05/45585695/the-golden-ratios-silver-surprise-this-metals-price-could-double">gold-to-silver ratio</a>, a metric that measures the number of ounces of silver required to equal one ounce of gold. The ratio has narrowed to around 94 from over 100, suggesting silver's relative strengthening, although it still lags gold, which is up over 40% year-over-year.
"There may be some ratio trading going on now that it's dipped below the 100 level," noted Rhona O'Connell, head of market analysis at StoneX.
Exchange-traded funds have also contributed to the momentum. Silver ETFs saw inflows of over <a href="https://www.etf.com/etfanalytics/etf-fund-flows-tool">2.2 million ounces</a> in a single day this week, signaling renewed appetite from institutional investors. Analysts say a sustained hold above the $35 level could also attract retail interest, particularly if technical levels hold and supply constraints persist.
A Generational Technical Breakout In Progress
Zooming out, silver is completing a rare, long-term cup-and-handle pattern spanning over four decades. A rule of thumb is that longer, "U-shaped" patterns provide a more reliable signal than sharp "V-bottom" ones.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="435" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-1024x435.png" alt="" class="wp-image-941544" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-1024x435.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-300x128.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-768x326.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-1536x653.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06121109/SILVER_2025-06-06_16-33-28-2048x870.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Silver Spot Price 1800-Present, Source: TradingView
The first parabolic peak in silver occurred in the early 1980s, when the Hunt brothers attempted to corner the silver market. Then a 2011 peak occurred post the Great Recession. Together, they have formed the "cup," with resistance around $50 per ounce.
Meanwhile, the "handle" formed from 2011 through 2024 as a multi-year consolidation. The breakout above the $30–$32 resistance zone in 2024–2025 suggests technical confirmation of the pattern. A typical guideline is to calculate the cup height and add it to the resistance zone price. Thus, with a cup height of around $40-42, the pattern's long-term target is around $75. 
On such a large timescale, the catalyst for the move is unlikely to be technical, but rather one that coincides with macroeconomic influences, particularly those stemming from monetary policy and geopolitical tensions.
Price Watch: iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) ETF is up 21.6% year-to-date.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/06/45812493/anglo-nears-de-beers-sale-as-three-potential-buyers-emerge">Anglo Nears De Beers Sale As Three Potential Buyers Emerge</a></li>
</ul>
Photo: Shutterstock

Silver Tops $36, Triggering A Generational Technical Breakout

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/06/05/final-trades-ulta-disney-gap-and-the-slv.html">Halftime Report Final Trades</a>,&#8221; Stephanie Link, chief investment strategist and portfolio manager at Hightower, said The Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) is down 33% in a week and recommended using the weakness to buy the stock. The stock trades at 9.7 times and has a dividend yield of 3.1%. 
Link said the clothing retailer reported a robust quarter that gained market share, and praised the new management as &#8220;phenomenal.&#8221;
Gap reported quarterly earnings of 51 cents per share on May 29, beating the consensus estimate of 45 cents. Quarterly revenue came in at $3.46 billion, beating the Street estimate of $3.42 billion.
Cerity Partners&#8217;s Jim Lebenthal said The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) has been in the $115 range. He expects the stock to break above $120.
As per the recent news, on June 4, Walt Disney lost its legal effort to prevent longtime executive Justin Connolly from leaving the company to join Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) YouTube.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Bill Baruch, founder and President of both Blue Line Capital and Blue Line Futures, picked iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>), saying silver reached the highest level since 2012.
On the earnings front, Westinghouse Air Brake, on April 23, reported better-than-expected first-quarter adjusted EPS results and raised its FY25 adjusted EPS guidance.
Brian G. Belski of BMO Capital Markets named Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) as his final trade.
Lending support to his choice, Ulta Beauty, on May 29, reported quarterly earnings of $6.70 per share, which beat the consensus estimate of $5.77 per share Quarterly revenue of $2.85 billion beat the Street estimate of $2.79 billion.
Price Action:
<ul class="wp-block-list">
<li>Gap shares gained 2.6% to close at $21.58 on Thursday.</li>
<li>Disney fell 0.9% to close at $112.53 on Thursday.</li>
<li>iShares Silver Trust gained 3.5% during the session.</li>
<li>Ulta Beauty shares rose 0.3% to settle at $467.04.</li>
</ul>
Check This Out: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45790405/top-2-defensive-stocks-that-are-ticking-portfolio-bombs">Top 2 Defensive Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>
Image: Shutterstock

News

Media

GOOG

GOOGL

ULTA

Gap, Disney, Ulta Beauty And More On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: GAP, Ulta Beauty, Walt Disney Company, iShares Silver Trust

Silver's not just glittering &#8211; it's surging. <a href="https://www.benzinga.com/topic/silver">The white metal</a> rocketed past $35.60 an ounce Thursday, a level last seen in 2012, and gold bull Peter Schiff says it's just warming up. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I love the smell of a precious metals rally in the morning. Gold is above $3,400, but silver and platinum are up 4%. Not only is silver above $35, it&#39;s about to take out $36, trading at its highest level since Dec. 2012. This train has left the station and there&#39;s no stopping it!
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1930582432270741827?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"This train has left the station and there's no stopping it," Schiff posted on X, noting silver's push to $36 and a 4% jump in early action.
While gold flirted with $3,400, it was silver that stole the spotlight, driven by a perfect storm of weak U.S. economic data, rising geopolitical tensions, and intensifying expectations of a Fed rate cut in September. The latest ADP report showed the weakest job growth since March 2023, and the ISM Services PMI fell into contraction territory <a href="http://www.benzinga.com/markets/market-summary/25/06/45788298/asia-markets-mixed-europe-gains-gold-inches-toward-all-time-high-global-markets-today-while-us-slept">for the first time</a> in nearly a year &#8211; fueling bets that the Fed will have little choice but to ease.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44994275/gold-now-worth-100x-more-than-silver-analysts-say-its-time-to-buy-the-underdog">Gold Now Worth 100x More Than Silver: Analysts Say It&#8217;s Time To Buy The Underdog</a>
<h2 class="wp-block-heading">Fed Doves And Trade Tensions Fan The Fire</h2>
It's not just macro softness driving this surge. The market is also reacting to Washington's tariff thunderclap &#8211; doubling import duties on <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45790624/exclusive-tariff-titans-why-cleveland-cliffs-nucor-steel-dynamics-could-outmuscle-the-competition">steel and aluminum to 50%</a> &#8211; raising fears of another trade slugfest just as investors react to a market-moving call between President Donald Trump and Chinese President Xi Jinping.
For silver, which straddles the line between precious metal and industrial workhorse, this is jet fuel. Whether it's flight to safety or hedging against inflation and trade turmoil, demand is coming from all corners.
<h2 class="wp-block-heading">SLV And Silver Miners Shine Bright</h2>
Retail investors are already piling in. The iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) (proxy for silver price) is up over 16% year-to-date and 14% over the past year, with technicals flashing green across the board. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0605"><img loading="lazy" decoding="async" width="631" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05085402/Screenshot-2025-06-05-at-6.23.50-PM.png" alt="" class="wp-image-939737" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05085402/Screenshot-2025-06-05-at-6.23.50-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05085402/Screenshot-2025-06-05-at-6.23.50-PM-300x231.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0605">Chart created using Benzinga Pro</a>
SLV is currently trading above its eight, 20, 50 and 200-day simple moving averages and maintains a bullish MACD (moving average convergence/divergence) indicator and an RSI (relative strength index) of 68.23.
For those seeking exposure to this breakout, silver miners like First Majestic Silver Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>), Pan American Silver Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>) and Wheaton Precious Metals Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>) are catching bids alongside the metal.
For diversified exposure, the Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) offers a direct line to the producers riding silver's high.
If Schiff's right and the rally's just beginning, silver bugs may have a lot more to smile about this summer.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45585695/the-golden-ratios-silver-surprise-this-metals-price-could-double">The Golden Ratio&#8217;s Silver Surprise: This Metal&#8217;s Price Could Double</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

PAAS

Silver Hits 12-Year High: Peter Schiff Says Rally's Just Starting

<ul>
<li>TSLA</li>
<li>GLD</li>
<li>SLV</li>
<li>NVDA</li>
<li>GOOGL</li>
<li>BULL</li>
<li>RDDT</li>
<li>UNH</li>
<li>GOOG</li>
<li>CRWV</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

BULL

CRWV

NVDA

RDDT

TSLA

Top 10 Trending Stocks On WallStreetBets As Of June 5, 2025 (Via Swaggy Stocks)

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2025/06/2025-06-03_08h51_13.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Global Growth Forecast Cut</h4>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-fall-in-dollar-usdx-mc-06032025">click here</a> for an enlarged chart of U.S. dollar index (USDX, DX, DXY).
Note the following:
<ul class="wp-block-list">
<li>The chart shows the fall in the dollar in 2025.</li>
<li>The chart shows the dollar index has fallen to the bottom band of zone 1 (support).</li>
<li>Prudent investors should be alert to the dollar breaking below the low band of the support zone.&nbsp;&nbsp;</li>
<li>A strong currency is the hallmark of a strong country.&nbsp; It is especially important for the U.S. because the U.S. owes its prosperity, in large part, to the dollar being the world's reserve currency.&nbsp; If the dollar falls further, it will be very negative for the U.S. in the long term.&nbsp; The short term is a different story. 
<ul class="wp-block-list">
<li>The momo crowd will celebrate the fall in the dollar by buying stocks.</li>
<li>The S&amp;P 500 has a large number of multinational companies.&nbsp; When earnings from overseas are translated into dollars, earnings will have the appearance of going up.&nbsp; Less knowledgeable investors will buy into higher earnings and aggressively buy stocks.</li>
<li>In the short term, the stock market will likely go up.</li>
<li>In the longer term, a fall in the dollar will be devastating.  As always, as members of our report, you will be able to act in advance to protect and grow your wealth.  It is important to build your knowledge ahead of time, so that if such a time comes, you will be ready to act with conviction.  </li>
</ul>
</li>
<li>Of note for prudent investors is that the Organization for Economic Co-operation and Development (OECD) has lowered the growth forecast for the world and for the U.S.&nbsp; OECD is a highly respected Paris based organization of 38 countries with the mission to promote growth and stability. 
<ul class="wp-block-list">
<li>OECD is citing tariffs as the trigger to reduce its forecast.</li>
<li>U.S. growth is projected to drop to 1.6% in 2025 and 1.5% in 2026.&nbsp; As a reference, the prior forecast was 2.2% and the U.S. grew by 2.8% in 2024.</li>
<li>The global growth forecast is being reduced to 2.9% in 2025 and 2026.&nbsp; As a reference, global growth was 3.3% in 2024.</li>
</ul>
</li>
<li>For the time being, the stock market is oblivious as the following three factors dominate: 
<ul class="wp-block-list">
<li>Blind money flowing into the stock market&nbsp;</li>
<li>Aggressively buying by the momo crowd</li>
<li>Wall Street doubling up on TACO trade (Trump Always Chickens Out)</li>
</ul>
</li>
<li>The stock market has correctly figured out that, at this time, President Trump is sensitive to the stock market.&nbsp; The White House is going out of its way to create hope.&nbsp; The latest hope driving buying in the stock market is President Trump pushing to have a phone call with President Xi of China.</li>
<li>Also driving buying in the stock market is President Trump giving several countries a deadline to submit their best trade proposals.</li>
<li>Adding to the buying in the stock market is President Trump's "big beautiful bill" heading to the Senate.&nbsp; The momo crowd is excited about tax cuts, higher government spending resulting in higher deficits, and higher government borrowing.&nbsp; The momo crowd believes that all of these will take the stock market to a new high.&nbsp; The hopium is S&amp;P 500 going to 7000 quickly.</li>
<li>The problem for all of the bullishness in the stock market is that the bond market and the dollar may get in the way.&nbsp; Unlike the stock market, the bond market and the currency market are very concerned about the higher deficit and higher borrowing that will result from President Trump's "big beautiful bill."</li>
<li>In important news, especially for AI, at its annual meeting Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) CEO C.C. Wei is very bullish and believes tariffs will not impact TSM as the company will be able to pass them on.  TSM is important because it is the main manufacturer of chips for companies such as NVIDIA Corp (NVDA), Advanced Micro Devices Inc (AMD), Apple Inc (AAPL), and Qualcomm Inc (QCOM).</li>
<li>In a boost for nuclear power, Meta Platforms Inc (META) is striking a deal to buy about 1.1 gigawatts of electricity from Clinton nuclear plant in Illinois.  Clinton is owned by Constellation Energy Corp (CEG).  Nuclear stocks such as Vistra Corp (VST), Oklo Inc (OKLO), Nano Nuclear Energy Inc (NNE), Nuscale Power Corp (SMR), Lightbridge Corp (LTBR), and Centrus Energy Corp (LEU) are seeing aggressive buying in the early trade.  The buying may fizzle out as the day progresses.</li>
<li>JOLTS job openings was released at 10am ET.</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Nvidia (NVDA) and Tesla Inc (TSLA).
In the early trade, money flows are neutral in Amazon.com, Inc. (AMZN), Microsoft Corp (MSFT), Meta (META), and Apple (AAPL).
In the early trade, money flows are negative in Alphabet Inc Class C (GOOG).
In the early trade, money flows are neutral in SPDR S&amp;P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin is range bound.
<h4 class="wp-block-heading">Arora Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.  Our proprietary Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Government

Forex

Global

Global Growth Forecast Cut; TACO And Blind Money Support The Stock Market

<ul>
<li>GOOGL</li>
<li>GLD</li>
<li>TSLA</li>
<li>UNH</li>
<li>NVDA</li>
<li>GOOG</li>
<li>HOOD</li>
<li>BULL</li>
<li>SLV</li>
<li>HIMS</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

Hims & Hers Health, Inc. Class A Common Stock

HIMS

HOOD

Top 10 Trending Stocks On WallStreetBets As Of June 3, 2025 (Via Swaggy Stocks)

Per-ounce gold prices are up $1,000 from a year ago, and defensive-minded investors can be forgiven for balking at the yellow metal's skyrocketing price.
Metals experts cite multiple reasons why gold prices are so high right now.&nbsp;
"If you step back, it's not surprising that we've seen gold surge by $1,000 per ounce over the past year," said Rana Vig, president and CEO of Blue Lagoon Resources Inc., a Vancouver-based mineral exploration company. "It's a textbook gold rally created by a perfect storm of macroeconomic and geopolitical factors."
Vig said the economy and markets have seen persistent inflation concerns, aggressive central bank buying (especially from countries seeking to reduce U.S. dollar exposure), and ongoing global instability. "Add to that falling confidence in fiat currencies and tariff instability, and you have an environment where gold speculation can thrive."
Given gold&#8217;s rapid rise, investors who wish to use metals as a powerful hedge against volatile markets have other options.
It's worth noting that gold prices aren't necessarily out of reach for precious metals investors.
"No doubt, the easy money in this cycle may have already been made," Vig noted. "As for new investors coming in now, the upside will be harder to find without taking on more risk."
One major upside of gold is that it's not just a speculative asset or a hedge for volatility. In many parts of the world, it's a way of life. 
"In countries like India, where gold is deeply woven into the cultural and economic fabric, it's not uncommon for entire villages to pool resources and buy gold by the gram," Vig added. "Even the poorest households will save in gold, not stocks, not bonds because it's tangible, trusted, and borderless."
That level of generational trust in gold continues to anchor demand globally. "For Western investors, there's something to learn from that mindset: Gold isn't just about price, it's about preservation," Vig noted. "It's about holding something real when everything else feels uncertain."
<h2 class="wp-block-heading">Non-Physical Gold Portfolio Options</h2>
Experts say that if current per-ounce gold prices at $3,300 are too high, investors have formidable "Plan B" options in the precious metals market. These metal plays may be your best bets.
<h3 class="wp-block-heading">Silver</h3>
Silver&#8217;s price is expected to rise to $40 an ounce within the next six to twelve months, about a 20% increase from current levels.
"This is similar to the projection for gold, and silver and gold tend to move in tandem with each other," said Brett Elliott, marketing director at American Precious Metals Exchange in Urbandale, Iowa. "Silver has a constrained supply, large industrial buyers who will pay virtually any amount to get the silver they need, and growing demand from various sectors."
Additionally, silver rallies tend to follow gold rallies, and gold has been rallying frequently this year. "Just like gold, silver is highly liquid and can be bought and sold in physical form, through ETFs, or through digital silver apps where the metal is vaulted but owned by you," Elliot noted.
Another factor favoring silver is supply and demand.&nbsp;
"There's a huge silver shortage in the world due to a lack of silver mines, and the demand for silver will continue to be high due to its usage in electric vehicles, electric vertical take-off and landing vehicles, and other electrical appliances," said Sankar Sharma, investing analyst and founder of RiskRewardReturn.com, mentioning iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>). "The best and easiest way to invest in silver is via the iShares Silver Trust, which is trading at an attractive $29.99 entry price as of May 30."
<h3 class="wp-block-heading">Copper</h3>
Copper is another robust metal contender for defense-oriented investors. "It's essential electrification, whether it&#8217;s electric vehicles, grid infrastructure, or renewable power," Vig said. "And while copper's global demand is expected to outpace supply over the next decade, its market price, in many ways, still hasn't caught up relative to its fundamental story."
Geography also matters with copper.
"Copper is an excellent base metal to get into as electric utility needs for third world countries are only going to increase over the next 10 to 20 years," said Robert Kientz, operations lead at Kinesis Bullion USA.
Overall, global economies are moving into an expansion cycle, which should fuel demand for copper. "If an investor has a five-year game plan, then copper stocks and miners are likely to move higher," Sharma said.&nbsp;
Sharma added that good copper stocks to consider include Freeport McMoran (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), Barrick Mining Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) and Rio Tinto Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).
<h3 class="wp-block-heading">Zinc</h3>
Zinc is an often overlooked precious metal, but it's critical to infrastructure across the globe. "As major economies reinvest in aging roads, bridges, and transport networks, zinc demand will remain strong," Vig said. "At the same time, recent supply disruptions have tightened the market, creating an attractive setup."
He recommends starting with producers like Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>), which offers zinc and copper exposure in a single play. The stock is trading at $37 per share and is down over 8% for the year, suggesting a possible "buy the dip" opportunity.
<h3 class="wp-block-heading">Gold ETFs</h3>
Suppose you're only interested in exposure or short-term trades. In that case, a gold exchange-traded fund can provide a low-cost way of expanding your portfolio and has the added bonus of near-instant liquidity.
There are some caveats, however. "If you're planning to hold gold for a few years or longer, the expense ratio on most gold ETFs is cost inefficient in the long run," Elliot said. "Physical gold often provides a better value for gold longs. You pay the premium once on physical gold, but with an ETF, you pay the expense ratio every year."
It's also ideal to conduct thorough due diligence on gold ETFs.
"Before investing in gold funds, investors must review suitable ETFs to ensure the fund's holdings are purely linked to gold," Sharma said.
<h2 class="wp-block-heading">The Takeaway On Gold And Its Long-Term Outlook</h2>
Near the mid-point of 2025, gold is edging higher for two reasons.&nbsp;
"We are in a time of geopolitical instability and inflation of the monetary supply," said Blake Mclaughlin, vice president of exploration at Axcap Ventures. "With both scenarios at play, it's no surprise that we have seen the price of gold rise consistently over the last 18 months. Also driving the surge in price are the central banks' continuous and real-time adjustments in gold allocation."
Yet despite an uptick in the price, gold comprises just a fraction of a percent of global investment holdings, noted Mclaughlin. "However, with the release of the US Federal Reserve's May meeting minutes, which flagged rising inflation and risks of recession, gold's appeal as a safe-haven asset is likely to increase and may soon make up a larger portion of investor portfolios." 
That's what precious metals with limited capacity can do to drive a portfolio upward.&nbsp;
"When it comes to gold supply, a tap cannot be turned on to increase supply &#8211; it takes years, even decades, to substantially increase it, making a demand spike like the one we are seeing carry significant impacts," Mclaughlin added.
<h2 class="wp-block-heading">Rebound Or Breakdown? Join Matt Maley Live On Wednesday, June 4</h2>
The market is flashing major warning signs—tech is cracking, small caps are diverging, and rate pressure is building fast. Volatility is rising, and a sharp move could hit any day. Join 42-year Wall Street veteran Matt Maley as he breaks down the signals he's watching, the stocks he's targeting for short-term trades, and how he's positioning for the next major move—whether the market rips higher or breaks down next. Reserve your free spot <a href="https://events2.benzinga.com/matt-maley-webinar-wed-june4-2025-registration/?utm_campaign=webinar060425&amp;utm_adType=sponsorad&amp;utm_ad=RD060225&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a>.
Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.
Photo: Shutterstock

SCCO

TECK

3 Gold Alternatives Set To Soar Next

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/05/29/final-trades-cameco-corp-devon-energy-toast-and-the-slv.html">Halftime Report Final Trades</a>,&#8221; Bryn Talkington, managing partner at Requisite Capital Management, named iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) as <a href="https://www.benzinga.com/topic/silver#:~:text=Silver%20initially%20outperformed%20gold%20but,a%2024%25%20increase%20since%20January.&amp;text=Despite%20strong%20performance%20post%2DCovid,lows%2C%20as%20per%20the%20bank.">her final trade</a>.
Silver futures fell by around 0.4% to trade at $33.275 an ounce this morning.
Bill Baruch, president of Blue Line Capital and Blue Line Futures, picked Cameco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>) as her final trade.
On the earnings front, Cameco, on May 1, reported quarterly earnings of 11 cents per share which missed the analyst consensus estimate of 19 cents per share. The company reported quarterly sales of $549.63 million which missed the analyst consensus estimate of $806.82 million.
Don't forget to check out our<a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>
Jenny Van Leeuwen Harrington, chief executive officer of Gilman Hill Asset Management, LLC, named Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), said JPMorgan hosted a call this week with the CEO, which was extremely encouraging.
Supporting her view, Morgan Stanley analyst Devin McDermott, on May 23, maintained Devon Energy with an Overweight rating and raised the price target from $42 to $44.
Joshua Brown, CEO of Ritholtz Wealth Management, picked Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) as his final trade.
Toast reported quarterly earnings of nine cents per share on May 8, missing the Street estimate of 12 cents. Quarterly revenue came in at $1.34 billion, in line with the consensus estimate. The company also announced an agreement with Topgolf to implement Toast Enterprise Solutions across its venues in the U.S.
Price Action:
<ul class="wp-block-list">
<li>Cameco shares fell 2.1% to close at $59.15 on Thursday.</li>
<li>iShares Silver Trust gained 1.1% on Thursday.</li>
<li>Devon Energy shares rose 0.8% to settle at $31.11 during the session.</li>
<li>Toast shares gained 0.3% to close at $42.24 on Thursday.</li>
</ul>
Check This Out: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45667868/top-2-materials-stocks-that-are-ticking-portfolio-bombs">Top 2 Materials Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

TOST

Cameco, Devon Energy, Toast And More On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: iShares Silver Trust, Cameco Corporation, Devon Energy, Toast, Inc

While investors obsess over <a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44836660/gold-tops-3300-as-peter-schiff-calls-it-biggest-financial-story-barrick-gold-flaunts-a-golden-cross">gold's path to $3,000</a>, silver may be quietly setting up for the bigger upside move — and the math might already be flashing the signal.
In a recent <a href="https://x.com/RonStoeferle/status/1925810027509457289?s=31">post</a> on X, Ronald-Peter Stöferle pointed out that if the gold-silver ratio — a historical measure of how many ounces of silver equal one ounce of gold — reverts to its long-term average, silver prices could surge.
With gold potentially heading to $3,000, the ratio implies silver could be worth between $55 and $63 per ounce, up to 95% higher than its current ~$33 price.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/05/45562808/jim-cramer-rivian-better-than-this-automaker-pan-american-silver-is-the-best-silver-mine">Jim Cramer: Rivian Better Than This Automaker, Pan American Silver Is The &#8216;Best Silver Mine&#8217;</a>
<h2 class="wp-block-heading">Silver Could Shine Brighter</h2>
But this isn't just a valuation story. Silver's fundamentals are shifting fast, and not just as a monetary metal. 2025 will mark the fifth consecutive year of silver supply deficits, with a cumulative shortfall of nearly 800 million ounces since 2021 — about the size of an entire year's mine production.
Demand, meanwhile, is being supercharged by industrial use. Solar panels alone are expected to consume nearly 198 million ounces of silver this year — an all-time high — and new-generation TOPCON technology could double that demand by 2029. Then there's the looming battery boom: Samsung's next-gen solid-state EV batteries could require up to 1 kilogram of silver per vehicle, a 20x jump from current battery chemistry.
Adding to the bullish pressure is India's sudden interest. The country imported 225 million ounces of silver in 2024 alone and could surpass 200 million ounces in ETP holdings by 2027, combining cultural affinity with a growing appetite for financial exposure.
For U.S. investors looking to position, the iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) and the Aberdeen Silver ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIVR#NYSE">SIVR</a>) track silver spot prices directly. More aggressive bets lie in the Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) or the ETFMG Junior Silver Miners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SILJ#NYSE">SILJ</a>).
If the golden ratio starts to snap back, silver may not just play catch-up — it might just outrun the headlines.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45541977/from-bars-to-blocks-bitcoin-now-outshines-gold-in-american-wallets">From Bars To Blocks: Bitcoin Now Outshines Gold In American Wallets</a></li>
</ul>
Photo: Shutterstock

The Golden Ratio's Silver Surprise: This Metal's Price Could Double

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/05/21/final-trades-silver-paycom-software-and-doordash.html">Halftime Report Final Trades</a>,&#8221; Joseph M. Terranova, Senior Managing Director for Virtus Investment Partners, said DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) reported strong quarterly earnings two weeks ago. 
There is a very strong near-term momentum, that's pushing it towards a 52-week high despite a triple-digit PE, he added.
DoorDash, on May 6, reported strong order growth and confirmed two major acquisitions, even as quarterly revenue missed analyst expectations. The company also reported quarterly GAAP earnings of 44 cents per share, beating the analyst consensus estimate of 39 cents. Quarterly revenue reached $3.03 billion, missing the $3.09 billion analyst consensus estimate. The revenue grew by 21% year-over-year.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>.
Bryn Talkington, Managing Partner of Requisite Capital Management, named The iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>), an ETF that invests in silver, as her final trade.
Gold is up 35% over the past year, while silver is up 3%, <a href="https://www.benzinga.com/quote/SLV">according to a note from Jonathan Krinsky.</a>
Silver futures gained around 0.1% to trade at $33.68 an ounce this morning.
Kari Firestone, Chair Emerita of Aureus Asset Management, said Paycom Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>), an employment and benefits software company, had some integration problems with one of their products, but they are beyond that. The stock is acting better, she added.
Supporting her view, Paycom Software, on May 7, reported better-than-expected first-quarter earnings and sales.
Price Action:
<ul class="wp-block-list">
<li>Paycom Software shares fell 1.3% to close at $257.25 on Wednesday.</li>
<li>DoorDash shares fell 0.2% to close at $204.77 on Wednesday.</li>
<li>iShares Silver Trust gained 1.3% during Wednesday's session.</li>
</ul>
Check This Out:<a href="https://www.benzinga.com/25/05/45540545/jim-cramer-recommends-not-buying-mosaic-doesnt-like-this-industrial-stock"> </a>
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45540545/jim-cramer-recommends-not-buying-mosaic-doesnt-like-this-industrial-stock">Jim Cramer Recommends Not Buying Mosaic, Doesn&#8217;t Like This Industrial Stock</a></li>
</ul>
Image: Shutterstock

DASH

PAYC

DoorDash, Paycom Software And More On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: iShares Silver Trust, Paycom Software, DoorDash

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2025/05/2025-05-13_08h43_42.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Lower Probability Of Stagflation And Recession</h4>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-cooler-consumer-price-index-cpi-spy-mc-05132025">click here</a> for an enlarged chart of SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul class="wp-block-list">
<li>The chart shows the stock market did not break above the breakout line on yesterday's rally.</li>
<li>The chart shows volume yesterday was not heavy, indicating that there is not high conviction in the jump.</li>
<li>Stock market bulls are expecting the market to quickly reach zone 1 (resistance) shown on the chart.</li>
<li>Stock market bears are scratching their heads trying to figure out why President Trump gave China everything it wanted, leaving the U.S with almost nothing in exchange.&nbsp; Bulls respond by saying President Trump has managed to get China to agree to open up to American goods by removing non-monetary barriers.</li>
<li>In our analysis, prudent investors need to remember that China has been promising to open up ever since President Nixon.  China has always talked a good game about opening up, but in reality, it has always maintained restrictions.  </li>
<li>The chart shows the stock market remains below the breakout line after the Consumer Price Index (CPI) came cooler than expected.&nbsp; Here are the details: 
<ul class="wp-block-list">
<li>Headline CPI came at 0.2% vs. 0.3% consensus.</li>
<li>Core CPI came at 0.2% vs. 0.3% consensus.</li>
</ul>
</li>
<li>In our analysis the probabilities of stagflation and recession have decreased.  The reason is the great deal China secured on tariffs.  On the campaign trail, President Trump had promised 60% tariffs on Chinese goods.  Once fentanyl tariffs are removed tariffs on Chinese goods will be only 10%.  As a reference, tariffs on the U.S.'s best ally, the U.K., are also 10%.  The U.S. runs a trade surplus with the U.K. and a massive trade deficit with China.       
<ul class="wp-block-list">
<li>According to our analysis, the probability of stagflation is now 60%, down from 70% prior.</li>
<li>According to our analysis, the probability of a recession is now 35%, down from 40% prior.  </li>
</ul>
</li>
<li>Treasury Secretary Scott Bessent says the deal with the E.U. will be "a bit slower," but he is optimistic about trade deals with Asian countries.</li>
<li>Ignore the Dow Jones Industrial Average (DJIA) this morning – the drop in DJIA is due to UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) suspending guidance.</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Amazon.com, Inc. (AMZN), Alphabet Inc Class C (GOOG), Meta Platforms Inc (META), NVIDIA Corp (NVDA), and Tesla Inc (TSLA).
In the early trade, money flows are neutral in Apple Inc (AAPL).
In the early trade, money flows are negative in Microsoft Corp (MSFT).
In the early trade, money flows are positive in S&amp;P 500 ETF (SPY) and Invesco QQQ Trust Series 1 (QQQ).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin is seeing buying.
The crypto exchange company Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) is being added to the S&amp;P 500.&nbsp; COIN will replace Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) on May 19.&nbsp; COIN is up about 11% as of this writing in the premarket.
<h4 class="wp-block-heading">Arora Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.  our proprietary Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

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지금까지 2025년은 귀금속에 대한 관심이 매우 높았던 한 해였다.
<h3>금</h3>
평소와 마찬가지로 금은 광범위한 귀금속 랠리를 주도하며 사상 최고치를 경신하고 강세를 보였다. 금의 견고하고 지속적인 랠리는 주로 다음과 같은 요인에 의해 주도되었다.
<ul>
<li>지난 1년여 동안 끊임없이 이어져 온 중앙은행(주로 중국과 인도)의 매수세</li>
<li>미국 관세, 계속되는 분쟁, 전반적으로 고조된 글로벌 긴장과 같은 여러 가지 이유로 인한 안전자산 수요</li>
<li>글로벌 부채: 어떻게든 재정 적자가 줄어들지 않는 한 글로벌 부채는 계속 기록적인 속도로 증가하고 법정통화의 구매력을 떨어뜨릴 것</li>
<li>개인 투자자의 관심: 증가하고 있지만 여전히 장기 평균을 훨씬 밑도는 수준</li>
</ul>
금의 일봉 차트를 보면 2024년 기술적 돌파 이후 쉬지 않고 랠리를 이어가고 있음을 알 수 있다. 금의 랠리에 기여한 거시적 요인은 여전히 존재하며 이는 지속적인 가격 상승을 의미하지만, 모든 것이 일직선으로 진행되는 것은 아니며 결국 금은 하락세를 보일 것이다.
현재 금은 횡보형 쐐기 모양으로 통합되고 있으며 가격 측면에서 중요한 결정을 내려야 할 것이다. 3,270~3,285달러 부근에 지지선이 형성되어 있으며, 그 아래로는 3,151달러까지 하락할 수 있다. 극단적인 약세 시나리오(인플레이션 급등 또는 전반적인 시장 폭락)가 발생하면 금은 2,934달러까지 하락할 수 있다. 이 수준까지 내려간다면 하락장에서 매수하기에 매우 좋은 기회가 될 것이다.
반대로 저항 추세선이 약 3,390~3,400달러에서 돌파된다면 3,500달러를 넘어 사상 최고치를 경신할 수 있는 길이 열릴 것이다.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" class="wp-image-14163" style="width: 920px; height: auto;" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-1024x773.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204713/XAUUSD_2025-06-09_20-27-21_72ece-2048x1547-1.png 1200w" alt="" width="1024" height="773" /></figure>
<h3>은</h3>
은은 금과 같은 화폐 자산이지만 산업적으로도 광범위하게 사용된다. 이러한 이유로 은은 글로벌 지정학적, 경제적 뉴스에 더 민감하게 반응하는 경향이 있다. 지난 15년 동안 은은 금보다 저조한 성과를 보였으며, 2011년 중반 약 30이었던 금/은 비율이 100 이상으로 상승했다(2020년 코로나 위기에는 126, 2025년 4월에는 105를 넘어섰다).  역사적으로 금이 앞서고 은이 뒤따랐기 때문에 이 비율은 결국 70대 또는 그 이하로 하락할 것으로 예상된다.
은은 전자, 태양광, 의학, 자동차, 사진, 군대 등 다양한 산업 분야에서 광범위하게 사용된다. 전 세계적으로 전기차와 친환경 에너지에 대한 관심이 높아지면서 점점 더 많은 양의 은이 필요하게 되었고, 이로 인해 지난 몇 년 동안 구조적인 공급 부족이 발생했다.
큰 글로벌 위기가 발생하지 않는 한, 향후 몇 달 동안 은이 금을 상회하고 금/은 비율이 하락하여 74-75 저점을 테스트할 것으로 예상된다.
일간 차트에서 은은 전 고점인 35달러를 돌파한 후 상승 채널 내에서 움직이고 있는 것을 볼 수 있다. 다음 저항은 채널 저항으로 약 38.50달러다. 반면 하락 반전 시 은은 31.5~32달러 영역까지 하락할 수 있다.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" class="wp-image-14164" style="width: 920px; height: auto;" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-1024x773.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204756/XAGUSD_2025-06-09_20-37-44_b5000-2048x1547-1.png 1200w" alt="" width="1024" height="773" /></figure>
<h3>백금</h3>
대부분의 귀금속 애널리스트와 투자자는 금과 은에 집중하지만, 백금은 잠재적으로 더 나은 거래 기회를 제공할 수 있다.
백금은 금보다 채굴량이 약 15~20배 적기 때문에 희소성이 훨씬 높다. 2000년대 초반에는 백금/금 비율이 2 정도였으나 2008년 위기 이후 빠르게 1로 떨어졌다. 백금의 주요 산업적 용도는 촉매 변환기이며, 내연기관 차량에서 전기차로 점차 전환되면서 지난 10년 동안 백금 가격이 급락했다. 백금/금 비율은 2025년 4월에 0.275로 바닥을 찍었고, 지난 한 달 동안 반등했다.
정부 데이터와 설문조사에 따르면 전기 자동차 채택률이 하락하고 있으며, 이는 백금에 매우 긍정적인 신호다. 시장에서는 향후 10년 이내에 거의 모든 자동차가 전기차가 될 것이라고 확신하는 것 같지만 개인적으로 그런 견해에 강하게 동의하지 않는다. 내연기관 자동차는 결국 단계적으로 퇴출되기 전까지 훨씬 더 오래, 그리고 많은 수로 존재할 것이라고 생각한다. 이런 이유로 저는 백금이 세 가지 귀금속 중 가장 상승 여력이 크다고 생각된다.
일간 차트를 보면 백금은 2022년 초부터 쐐기형 횡보세를 보이다가 2025년 5월에 급격한 돌파를 보인 것을 알 수 있다. 이 글을 쓰는 시점에서 백금은 1,208달러에 거래되고 있으며 1,223달러와 전고점인 1,339달러에 근접해 있다. 반대로 일반적인 리스크 오프 움직임은 백금을 하락시킬 가능성이 높으며 1,130~1,140달러 영역에서 지지선이 수렴하고 있다.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" class="wp-image-14165" style="width: 916px; height: auto;" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-1024x773.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-1024x773.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-300x227.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1-768x580.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/09204837/XPTUSD_2025-06-09_20-50-25_1cc6c-1500x1133-1.png 1200w" alt="" width="1024" height="773" /></figure>
<h3>요약</h3>
요약하자면 금, 은 그리고 백금 3가지 귀금속 모두 2025년과 2026년에도 강세를 이어갈 것으로 보이지만, 최근 급등으로 저항선에 근접해 하락이 불가피할 것으로 예상된다. 이러한 하락이 현실화된다면 실물 수요가 강해지면서 매수세가 유입될 것이다. 백금에 이어 은의 상승 가능성이 가장 높지만, 높은 수익률에는 높은 변동성이 동반되는 경우가 많으므로 트레이더는 이에 대비하고 적절히 위험을 관리해야 한다.
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<a href="https://www.benzinga.com/topic/silver" target="_blank" rel="noopener">은 가격</a>이 2011년에 마지막으로 돌파한 온스당 35달러를 넘어서며 공식적으로 14년 만에 고점을 돌파했다. <a href="https://x.com/KatusaResearch/status/1931766766147149841" target="_blank" rel="noopener">카투사 리서치(Katusa Research)</a>는 이전에도 35달러를 돌파했을 때 7주 동안 은 가격이 49달러까지 36% 급등했었다거 지적했으며, 이번에도 역사가 반복될 가능성이 높다.
현재 은 현물은 약 36달러/온스에 거래되고 있으며, 2025년에는 +24%의 인상적인 상승률을 기록할 것으로 예상된다. 은은 최근 8개월간의 저점을 돌파하며 온스당 32.78달러를 기록한 후 꾸준히 상승하고 있다.
미국 달러 약세, 태양광 기술과 관련된 견고한 산업 수요, 5년 연속 구조적 공급 부족과 같은 호재가 랠리에 힘을 실어주고 있다.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" class="wp-image-943530" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-1024x558.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09122752/Screenshot-2025-06-09-at-7.43.54-PM.png 1134w" alt="" width="1024" height="558" /></figure>
차트는 TradingView를 사용하여 생성됨
<a href="https://in.tradingview.com/symbols/SILVER/technicals/" target="_blank" rel="noopener">기술적 지표</a>도 청신호를 보내고 있다. 10일 이동평균부터 200일 이동평균까지 거의 모든 이동평균이 강세를 보이고 있다. MACD(이동평균 수렴/발산)와 궁극 오실레이터 같은 도구도 고개를 끄덕이며 앞으로 더 강한 모멘텀을 암시한다.
유일한 주의 신호는 20일 원자재 채널 지수가 과매수 상태라는 점으로, 잠시 숨고르기를 할 수 있지만 강세 흐름을 바꿀 만한 요인은 없다.
<h3>은 투자자에게 어떤 의미일까?</h3>
간단하다. 은은 단순한 금속이 아니라 포트폴리오의 일부이다. 
모멘텀에 편승하고 싶다면 과감하게 투자하고 싶다면 iShares Silver Trust(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) 또는 좀 더 대담하게 ProShares Ultra Silver(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGQ#NYSE">AGQ</a>) 같은 실물 금속 펀드를 고려할 수 있다.
<h3>50달러에 주목?</h3>
애널리스트들은 기술적, 펀더멘털적 상승이 이어질 것으로 보고 있다. 스톤엑스(StoneX)와 위즈덤트리(WisdomTree) 전략가들은 금 대비 은의 저평가를 강조한다. <a href="https://in.benzinga.com/economics/macro-economic-events/25/04/44994275/gold-now-worth-100x-more-than-silver-analysts-say-its-time-to-buy-the-underdog" target="_blank" rel="noopener">금/은 비율</a>은 4월 105에서 최근 90으로 하락했다.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" class="wp-image-943547" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-1024x558.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/09123644/Screenshot-2025-06-09-at-10.06.29-PM.png 1134w" alt="" width="1024" height="558" /></figure>
차트는 TradingView를 사용하여 생성됨
이 격차가 좁혀지면서 많은 사람들이 <a href="https://www.reuters.com/business/silver-surges-past-35oz-level-hit-more-than-13-year-high-2025-06-05/" target="_blank" rel="noopener">36달러를 체크포인트</a>로 보고 있으며, 이 선을 넘으면 (지금까지 그래왔듯이) 특히 태양광 및 전기 자동차 수요가 계속 확대될 경우 40달러 또는 50달러를 향해 질주할 수 있을 것으로 전망하고 있다.
<h3>왜 지금일까?</h3>
금과 달리 은은 대부분 부산물로 채굴되기 때문에 생산 속도가 제한적이다. 즉, 가격이 상승하더라도 시장에 새로운 공급이 즉시 쏟아져 나오지 않아 랠리가 지속될 수 없다. 
여기에 산업계의 새로운 수요와 중앙은행의 매수가 더해지면 이 패키지는 합리적이다.
은은 공식적으로 가격 방향을 바꿨다. 35달러 돌파는 강세 펀더멘털, 기술적 모멘텀, 모든 위험선호도를 충족하는 ETF 상품으로 새로운 장을 열었다. 은이 역사를 반복한다면 트레이더는 50달러를 바라볼 수 있다. 하지만 빠른 급등은 흔들릴 수 있다는 점을 기억하자.
현명한 매매를 원한다면 SLV 펀드가 더 부드러운 경로를 제공하며, 공격적인 플레이어는 AGQ 펀드에 진입할 수 있다. 언제 50달러가 가시권에 들어올지 모르니 계속 주시하기 바란다. 
사진: Shutterstock
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금 1온스는 이제 은 1온스의 100배 이상의 가치가 있다. 애널리스트들은 지난 세기 동안 단 차례밖에 볼 수 없었던 희귀한 불균형이 <a href="https://www.benzinga.com/topic/silver" target="_blank" rel="noopener">은에 대한 매수 신호로 번지고 있다</a>고 말한다.
2025년, 금은 글로벌 자산 클래스 중 확실한 리더로 부상하며 새로운 차원으로 치솟은 반면, 은은 눈에 띄게 뒤처져 있어 그 격차가 지속될 것으로 예상하는 사람은 거의 없다.
SPDR 골드 트러스트(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)가 추종하는 금 가격은 이번 주 온스당 3,500달러까지 급등하며 사상 최고치를 경신하고 연중 30%에 가까운 상승률을 기록했다.
반면에 은은 훨씬 뒤처져 있다. iShares 실버 트러스트(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>)가 추종하는 은 가격은 온스당 33.50달러로 2011년 최고점인 50달러보다 여전히 33% 낮은 수준이다.
극명한 차이에도 불구하고 애널리스트들은 이러한 불균형이 규칙이 아니라 예외라고 말한다. 대부분은 금과 은의 비율이 급격히 반전될 것으로 예상하며, 이는 귀금속 랠리의 다음 구간에서 은이 시장수익률 상회할 준비가 되어 있음을 의미한다.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" class="wp-image-887412" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24145438/GOLD_SILVER_2025-04-24_20-54-21_e3a47-1024x528.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24145438/GOLD_SILVER_2025-04-24_20-54-21_e3a47-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24145438/GOLD_SILVER_2025-04-24_20-54-21_e3a47-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24145438/GOLD_SILVER_2025-04-24_20-54-21_e3a47-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24145438/GOLD_SILVER_2025-04-24_20-54-21_e3a47-1536x792.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24145438/GOLD_SILVER_2025-04-24_20-54-21_e3a47.png 1920w" alt="" width="1024" height="528" /></figure>
<h3 class="wp-block-heading">은이 놀라운 반등을 이룰 수 있을까?</h3>
골드머니닷컴(Goldmoney.com)의 창립자 제임스 터크(James Turk)는 소셜미디어 엑스(X)를 통해 금과 은의 비율이 100인 것은 이상 현상이며, 일반적으로 은의 반등 시작을 알리는 신호라고 밝혔다.
"역사적 맥락에서 100이라는 수준은 매우 드문 현상이며, 이 수준을 넘어서면 은행 위기 시 돈이 은으로 급격히 유입되면서 비율이 급락한다. 은은 화폐로서의 유용성을 잃지 않았다. 단지 은행 앞에 줄이 서기 전까지 간과되는 것이다.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
This 110-yr chart shows how rare it is for the <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> <a href="https://twitter.com/hashtag/silver?src=hash&amp;ref_src=twsrc%5Etfw">#silver</a> ratio to hit 100:1, after which the ratio falls quickly b/c <a href="https://twitter.com/hashtag/money?src=hash&amp;ref_src=twsrc%5Etfw">#money</a> floods into silver during <a href="https://twitter.com/hashtag/bank?src=hash&amp;ref_src=twsrc%5Etfw">#bank</a> crises. Silver hasn't lost its usefulness as <a href="https://twitter.com/hashtag/money?src=hash&amp;ref_src=twsrc%5Etfw">#money</a>. It's just overlooked until the lines form outside of <a href="https://twitter.com/hashtag/banks?src=hash&amp;ref_src=twsrc%5Etfw">#banks</a>. <a href="https://t.co/qo0HWyH8Wu">pic.twitter.com/qo0HWyH8Wu</a>
&mdash; James Turk (@FGMR) <a href="https://twitter.com/FGMR/status/1914072809073942794?ref_src=twsrc%5Etfw">April 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
기술 애널리스트이자 더데일리골드(The Daily Gold) 창립자인 조던 로이 바이른(Jordan Roy-Byrne)은  금이 큰 폭의 상승세에 이어 첫 조정기를 겪은 후에는 은이 금보다 시장수익률을 상회하는 경우가 많다고 지적했다.
로이 바이른은 "정점이든 아니든, 현재 은과 은 주식은 큰 가치를 가지고 있다&#8221;며 "다음 상승세에서 강력한 시장수익률을 상회할 준비가 되어 있다&#8221;고 했다.
크레스캣 캐피털(Crescat Capital)의 매크로 전략가 옥타비오 코스타(Otavio Costa)에 따르면, 역사적 맥락이 그 답을 알려 준다.
"지난 125년간 이 비율은 100 수준을 넘어선 순간이 매우 짧았으며, 이러한 극단적 수준은 오래 지속되지 않는 경향이 있다."
그는 이어 "금 대비 은 비율이 100을 넘어 오래 머문 사례를 본 적이 없으며, 이 비율이 반전되기 전에 더 상승할 것이라는 베팅에 실질적인 상승 여력이 없다고 생각다. 이는 내가 접한 가장 매력적인 기회 중 하나다.&#8221;
코스타의 발언은 과거 성과와 일치한다. 2010년 비율은 70:1 근처에서 정점을 찍은 후 은 가격이 14개월 만에 15달러에서 48달러로 223% 급등했지만, 금은 45%만 상승했다. 2020년 코로나19 팬데믹으로 124:1까지 급등한 후 은 가격은 두 배로 올랐지만, 금은 31% 상승에 그쳤다.
&#8220;당신은 ‘이번에는 다를 것&#8217;이라고 생각하는 캠프에 있을 수도 있고, 아니면 역사를 고수할 수도 있다. 나는 확실히 후자에 속한다.&#8221; 코스타는 이렇게 말했다.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
You're either in the camp that thinks "this time is different," or you stick with history.
I'm definitely in the latter.
I've never seen the gold-to-silver ratio stay above 100 for long, and I don't see any real upside in betting it pushes higher before it turns.
This feels… <a href="https://t.co/eHbEdHLe9k">pic.twitter.com/eHbEdHLe9k</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1914774077845500063?ref_src=twsrc%5Etfw">April 22, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
카투사 리서치(Katusa Research)의 <a href="https://katusaresearch.com/silvers-historic-opportunity-and-the-1001-activation-point/">보고서</a>는 은의 이른바 "100 대 1 활성화 포인트", 이른바 역사적 금-은 스프레드에서 도출된 신호가 이제 발동되었다고 강조했다.
해당 기관은 "1980년 은 거래"를 아는 투자자가 거의 없다&#8221;고 지적하며 &#8220;당시 금-은 비율이 17:1로 급락하고 은 가격이 온스당 50달러까지 급등했다&#8221;고 설명했다.
"즉, 금 1온스를 사기 위해 은 17온스가 필요했다는 의미다.&#8221; 이러한 불균형이 재설정될 때 은은 상승세에서 금보다 3~5배 더 빠르게 상승한다고 덧붙였다.
이 활성화 포인트는 지난 25년간 단 두 번만 달성되었으며, 두 번 모두 은의 수익률은 금을 압도했다.
사진: a98ntfp/Shutterstock
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