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Analysts predict some profitbooking and retracement before prices move higher again.
Gold pulled back sharply from its record high of $4,650 after the US President Donald Trump refrained from announcing new tariffs on imports of critical minerals, says analyst.
Gold declined on Thursday as investors booked profits after the yellow metal hit a record in the previous session.
Gold traded with strong positive momentum as geopolitical uncertainty resurfaced after peace talks between the US and Iran were reportedly cancelled, reviving safe-haven demand, says analyst.
Safe haven demand, concerns over the independence of the US Federal Reserve, escalating geopolitical tensions and renewed trade uncertainties push up prices
Brent dropped as much as 2.9% to trade below $65 a barrel after gaining about 11% over the past week while West Texas Intermediate was near $60
Frenzied buying in China across multiple metals has stoked the recent moves while investors have been seeking safe havens amid geopolitical flashpoints
The market is technically overextended after a sharp run-up, and short-term consolidation or volatility cannot be ruled out, an analyst said.
IOC and BPCL have announced a second oil discovery in an onshore Abu Dhabi block, strengthening their overseas upstream portfolio and India’s energy security.
Analyst, citing Fibonacci extension, predicts that this rally can extend further towards $84, $88, $93 and $99 in the coming few months of 2026 with strong support at $70.
Gold has decisively broken above its earlier resistance at $4,570, opening the door to higher levels, says analyst
The white metal advanced as much as 3.5% to touch $89.9965 an ounce, while gold traded near an all-time peak.
Commodity analysts argue that after a sharp rise, prices usually pause instead of crashing.
Silver’s market capitalisation sits at around of $4.822 trillion, ahead of Nivida’s $4.502 trillion, according to companiesmarketcap.com
The weakening job market combined with geopolitical risks, firmer oil prices, and rising uncertainty, have created a supportive environment for precious metals, says analyst.
Analyst says that gold fresh record highs was driven by a mix of rising geopolitical tensions and growing expectations that the US Federal Reserve will be forced to cut interest rates further.
Looking ahead, US CPI, retail sales, weekly jobless claims, and speeches from several FOMC officials will be key in shaping expectations for the monetary policy outlook.
The sharp decline in the gold-silver ratio signals silver’s clear outperformance, driven by strong industrial demand, supply deficits, and its growing appeal alongside gold as a safe-haven asset.
Precious metals are at the center of a powerful upward re-rating on a confluence of tailwinds that has supercharged demand.
Spot gold jumped 1.3% to $4,566.80 per ounce by 0410 GMT. Bullion hit a record high of $4,600.33 earlier in the day
Hindustan Zinc share price: These ETFs have delivered returns of up to 176% over the past one year as silver prices skyrocketed in 2025.
As per crypto analyst, the crypto market opened the week on a positive note, with Bitcoin and Ethereum leading modest gains.
The spot price of silver has climned 4.79 percent from its previous close on Comex.
Despite the pullback, prices remained 1.77 percent higher than the previous close.
Bullion rose to just shy of $4,600 an ounce on Monday after Fed Chair Jerome Powell said the central bank had been served grand jury subpoenas from the Justice Department related to his June congressional testimony on renovations of the Fed’s headquarters.
