Gold, silver, and platinum post strongest weekly gains of 2025 amid weaker dollar
Gold hits record high as ETF inflows surge and dollar weakens
Gold price hit a new all-time high of $3,24 during the European session on Friday, extending its weekly gain to 6.7%. This marks its strongest weekly advance of 2025 — and the biggest since 2020. But the price has since eased slightly to $3,210 in the North American session, still holding a 1.32% daily gain and trading comfortably above last week’s record at $3,168, which now acts as near-term support.
Strong inflows into gold-backed ETFs have supported the rally. According to the World Gold Council’s latest report, March saw net ETF inflows of 92 tonnes — nearly matching February’s total, which was the highest in almost three years. Commerzbank analyst Carsten Fritsch attributes the demand to growing investor interest, partly driven by ongoing uncertainty over US tariffs.
Investors eye PPI and Michigan Sentiment data as metals rally risks reversal
Gold, Silver, Platinum price dynamics (Feb 2025 - April 2025). Source: MT4
Silver also joined the rally. It reached a five-day high of $31.50 today and has gained over 8% this week, making it the largest weekly gain of the year so far. However, silver ascent is now challenged by the 50 EMA on the 4-hour chart, which could slow further gains.
Platinum, on the other hand, notched its fifth straight up-day today. The price rose 2% from $930 to $950 before returning to $943 in the North American session. The weekly gain now stands at 3.5%. Due to the strong rejection at $950, a potential dip below $940 is very likely if momentum cools.
Market attention now shifts to the upcoming US Producer Price Index and Michigan Consumer Sentiment data. Better-than-expected readings of this economic data could trigger the dollar’s strength and potentially slow the metals rally, but for now, momentum, demand, and a weaker dollar continue to work in favor of the bulls.
Precious metals surged as investors sought safety amid tariff tensions. A 90-day tariff pause and hikes on China shifted market sentiment toward gold, silver, and platinum.
