Chart of the Day - Monday, June 2, 2025

• Silver jumped +5.8% today, marking its best day in over a year. It’s only Monday, but futures are on pace for their highest weekly close since 2012.
   
• Sam notes that Silver is testing key resistance at $35/oz, which aligns with the 61.8% Fibonacci retracement of the decline from 2011 to 2020. Silver has failed at this level several times—twice in 2012, and more recently in October and March. 
   
• A decisive breakout above $35/oz could send Silver to all-time highs near $49/oz. Returning to the all-time highs would complete a 14-year base and unlock significantly more upside.
   

The Takeaway: Following its best day in over a year, Silver is testing a potential inflection point at $35. A successful breakout would set the stage for all-time highs while completing a 14-year base.